MQS Management LLC Acquires Shares of 4,198 Phillips 66 $PSX

MQS Management LLC purchased a new position in Phillips 66 (NYSE:PSX) during the second quarter, HoldingsChannel.com reports. The fund purchased 4,198 shares of the oil and gas company’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Phillips 66 by 9,530.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after buying an additional 1,431,450 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. TD Cowen upped their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Barclays upped their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the 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 transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 9,850 shares of company stock valued at $1,188,910 over the last ninety days. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 0.5%

Shares of NYSE PSX opened at $135.07 on Friday. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. 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’s 50 day simple moving average is $131.51 and its two-hundred day simple moving average is $122.00. The stock has a market capitalization of $54.58 billion, a P/E ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $32.11 billion. During the same period last year, the business earned $2.31 earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 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.