Phillips 66 $PSX Holdings Raised by CVA Family Office LLC

CVA Family Office LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 942 shares of the oil and gas company’s stock after purchasing an additional 86 shares during the period. CVA Family Office LLC’s holdings in Phillips 66 were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC raised its stake in Phillips 66 by 9,530.9% during 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 acquiring an additional 1,431,450 shares during the period. Nuveen LLC bought a new position in Phillips 66 in the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $828,442,000 after acquiring an additional 682,459 shares during the period. Finally, Invesco Ltd. boosted its position in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after purchasing an additional 653,248 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Evercore ISI upped their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Wells Fargo & Company assumed coverage on Phillips 66 in a report on Friday, October 17th. They set an “overweight” rating and a $154.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Saturday. Finally, Morgan Stanley raised their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Michael A. Heim purchased 1,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director owned 29,423 shares in the company, 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. Insiders bought 9,850 shares of company stock valued at $1,188,910 in the last three months. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $135.07 on Friday. The stock has a market cap of $54.58 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The stock’s 50 day moving average price is $131.51 and its 200 day moving average price is $122.00.

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

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

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.