Callan Family Office LLC Increases Position in Phillips 66 $PSX

Callan Family Office LLC grew its holdings in Phillips 66 (NYSE:PSX) by 73.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,274 shares of the oil and gas company’s stock after buying an additional 2,228 shares during the period. Callan Family Office LLC’s holdings in Phillips 66 were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. WealthTrust Axiom LLC raised its holdings in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC raised its holdings in Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC raised its holdings in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC raised its holdings in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

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 transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PSX shares. Jefferies Financial Group increased their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday. Raymond James Financial increased their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Morgan Stanley increased their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Evercore ISI increased their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.75.

Phillips 66 Trading Up 2.4%

Shares of PSX opened at $129.82 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $129.67 and a 200-day simple moving average of $120.61. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) 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.