Tripletail Wealth Management LLC Invests $434,000 in Phillips 66 $PSX

Tripletail Wealth Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,662 shares of the oil and gas company’s stock, valued at approximately $434,000.

A number of other institutional investors have also modified their holdings of PSX. Vanguard Group Inc. lifted its stake in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares in the last quarter. Elliott Investment Management L.P. boosted its position in Phillips 66 by 1,929.0% during 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 purchasing an additional 14,950,000 shares during the period. Geode Capital Management LLC grew its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after acquiring an additional 1,532,967 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position 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. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research reports. Jefferies Financial Group raised their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Wolfe Research raised their price target on shares of Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley upped their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $147.88.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $138.85 on Tuesday. The firm’s 50 day simple moving average is $135.07 and its 200 day simple moving average is $128.66. The company has a market capitalization of $55.94 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 0.73 and a beta of 0.92. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the firm earned $2.04 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s payout ratio is 131.15%.

Insiders Place Their Bets

In related news, 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 transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 $12,388,398. This represents a 25.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is currently owned by corporate 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.