Magnetar Financial LLC Acquires Shares of 15,324 Phillips 66 (NYSE:PSX)

Magnetar Financial LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,324 shares of the oil and gas company’s stock, valued at approximately $2,503,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Raymond James reduced their price objective on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, TD Cowen reduced their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.23.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.2 %

Shares of PSX stock traded down $0.30 during trading on Friday, reaching $142.21. The company’s stock had a trading volume of 1,813,784 shares, compared to its average volume of 2,186,005. The business has a fifty day moving average price of $139.14 and a 200-day moving average price of $145.47. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market cap of $60.29 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 2.36 and a beta of 1.34. Phillips 66 has a one year low of $107.41 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the firm earned $4.21 EPS. Analysts anticipate that Phillips 66 will post 10.06 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.23%. Phillips 66’s payout ratio is 35.38%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.