Kuhn & Co Investment Counsel Acquires 935 Shares of Phillips 66 $PSX

Kuhn & Co Investment Counsel increased its holdings in Phillips 66 (NYSE:PSX) by 23.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,903 shares of the oil and gas company’s stock after purchasing an additional 935 shares during the period. Kuhn & Co Investment Counsel’s holdings in Phillips 66 were worth $585,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in Phillips 66 in the 1st quarter valued at $29,000. Webster Bank N. A. lifted its stake in Phillips 66 by 58.8% in 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 in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Phillips 66 during the 2nd quarter valued at about $32,000. Finally, Nova Wealth Management Inc. purchased a new position in shares of Phillips 66 during the first quarter valued at about $37,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,986 shares of company stock worth $8,955,291 in the last quarter. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Barclays boosted their target price on shares of Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, Piper Sandler lifted their price target on Phillips 66 from $159.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.71.

Phillips 66 Price Performance

Phillips 66 stock opened at $137.15 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $143.25. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $134.67 and a 200-day moving average price of $127.79. The firm has a market capitalization of $55.26 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 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 analyst estimates of $32.29 billion. During the same period in the prior year, the company posted $2.04 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared 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. 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 currently 131.15%.

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.