Cooper Financial Group Raises Holdings in Phillips 66 $PSX

Cooper Financial Group grew its position in shares of Phillips 66 (NYSE:PSX) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,904 shares of the oil and gas company’s stock after buying an additional 225 shares during the period. Cooper Financial Group’s holdings in Phillips 66 were worth $227,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the 1st quarter valued at $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. Jefferies Financial Group boosted their price objective on Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, September 15th. UBS Group boosted their price objective on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley boosted their price objective on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Finally, Piper Sandler boosted their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.44.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $135.02 on Friday. The firm has a market capitalization of $54.57 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $128.72 and its two-hundred day simple moving average is $120.46. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the company earned $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 Company Profile

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.