1,888 Shares in Phillips 66 $PSX Bought by Optas LLC

Optas LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,888 shares of the oil and gas company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently bought and sold shares of the company. Ignite Planners LLC bought a new stake in Phillips 66 during the second quarter valued at about $239,000. Venturi Wealth Management LLC boosted its holdings in Phillips 66 by 22.0% during the second quarter. Venturi Wealth Management LLC now owns 4,949 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 891 shares during the period. Independent Solutions Wealth Management LLC boosted its holdings in Phillips 66 by 3.1% during the second quarter. Independent Solutions Wealth Management LLC now owns 15,799 shares of the oil and gas company’s stock valued at $1,885,000 after acquiring an additional 476 shares during the period. Country Club Bank boosted its holdings in Phillips 66 by 1.3% during the second quarter. Country Club Bank now owns 7,362 shares of the oil and gas company’s stock valued at $878,000 after acquiring an additional 95 shares during the period. Finally, Bennett Associates Wealth Management boosted its holdings in Phillips 66 by 18.0% during the second quarter. Bennett Associates Wealth Management now owns 4,560 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 697 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Piper Sandler increased their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Barclays increased their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Raymond James Financial increased their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.75.

Phillips 66 Stock Performance

NYSE:PSX opened at $127.01 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. 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 firm has a market capitalization of $51.33 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The firm has a 50-day moving average price of $129.51 and a 200 day moving average price of $120.63.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by company insiders.

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.