SIR Capital Management L.P. Invests $13.80 Million in Phillips 66 $PSX

SIR Capital Management L.P. purchased a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 106,930 shares of the oil and gas company’s stock, valued at approximately $13,798,000. Phillips 66 makes up about 1.5% of SIR Capital Management L.P.’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently made changes to their positions in PSX. Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP boosted its position in shares of Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Sei Investments Co. boosted its position in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after purchasing an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after purchasing an additional 28,988 shares in the last quarter. Finally, Glenview Trust co boosted its position in shares of Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after purchasing an additional 229 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Guggenheim raised Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Scotiabank boosted their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $179.27 on Friday. Phillips 66 has a twelve month low of $118.00 and a twelve month high of $190.61. The firm has a market cap of $71.87 billion, a P/E ratio of 17.66, a PEG ratio of 0.26 and a beta of 0.68. The company has a 50 day moving average of $172.49 and a 200 day moving average of $157.75. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the business earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 17.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 45,629 shares of company stock valued at $8,071,540. Company insiders own 0.40% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.