NewSquare Capital LLC Acquires 2,364 Shares of Phillips 66 $PSX

NewSquare Capital LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 4.8% during the second quarter, HoldingsChannel reports. The fund owned 52,111 shares of the oil and gas company’s stock after purchasing an additional 2,364 shares during the quarter. NewSquare Capital LLC’s holdings in Phillips 66 were worth $6,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. grew 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 worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Phillips 66 by 9,530.9% during 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 buying an additional 1,431,450 shares during the last quarter. Nuveen LLC bought a new stake in Phillips 66 during the 1st quarter valued at $156,482,000. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 11.3% during 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 buying an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. raised its holdings 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 buying an additional 653,248 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Scotiabank restated a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Barclays increased their price target on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $138.02 on Tuesday. The firm’s 50 day moving average price is $132.84 and its 200-day moving average price is $123.92. Phillips 66 has a twelve month low of $91.01 and a twelve 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 stock has a market capitalization of $55.61 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the business earned $2.04 EPS. Equities research analysts expect 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 paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Insider Buying and Selling

In other Phillips 66 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 sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.