Howard Capital Management Inc. Buys 299 Shares of Phillips 66 $PSX

Howard Capital Management Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,761 shares of the oil and gas company’s stock after purchasing an additional 299 shares during the period. Howard Capital Management Inc.’s holdings in Phillips 66 were worth $329,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PSX. Elliott Investment Management L.P. raised its stake in 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 acquiring an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC raised its stake in Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC bought a new stake in Phillips 66 in the 1st quarter valued at $156,482,000. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 11.3% in the 1st 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. raised its stake in Phillips 66 by 15.9% in 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 acquiring an additional 653,248 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $137.17 on Friday. 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 stock’s fifty day moving average price is $132.54 and its two-hundred day moving average price is $123.00. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The firm has a market cap of $55.43 billion, a price-to-earnings ratio of 37.48, a P/E/G ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period last year, the firm posted $2.04 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Transactions at Phillips 66

In related news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost 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 $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Scotiabank restated a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Piper Sandler increased their price target on Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.94.

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.