Highlander Partners L.P. Acquires New Stake in Phillips 66 $PSX

Highlander Partners L.P. bought a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,000 shares of the oil and gas company’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently made changes to their positions in PSX. Wolff Wiese Magana LLC raised its position in shares of 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 acquiring an additional 82 shares during the last quarter. Pinpoint Asset Management Ltd bought a new position in Phillips 66 during the 1st quarter worth approximately $29,000. Webster Bank N. A. raised its holdings in Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $37,000. Finally, GKV Capital Management Co. Inc. boosted its stake in shares of Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PSX. Cowen restated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Mizuho lifted their price objective on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Piper Sandler upped their target price on Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Barclays lifted their target price on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Jefferies Financial Group increased their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Stock Up 0.1%

Shares of NYSE:PSX opened at $135.95 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The business’s 50 day simple moving average is $133.02 and its two-hundred day simple moving average is $124.26. The firm has a market cap of $54.78 billion, a P/E ratio of 37.14, a PEG ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is owned by company insiders.

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.