2,162 Shares in Phillips 66 $PSX Purchased by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. acquired a new position in Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,162 shares of the oil and gas company’s stock, valued at approximately $430,000.

A number of other institutional investors have also recently bought and sold shares of PSX. Simplicity Wealth LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $1,122,000. Baxter Bros Inc. bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $3,793,000. Uniting Wealth Partners LLC bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $390,000. Trivium Point Advisory LLC acquired a new stake in Phillips 66 during the second quarter worth approximately $349,000. Finally, Wealthspan Partners LLC acquired a new stake in Phillips 66 during the second quarter worth approximately $275,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PSX shares. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. BMO Capital Markets increased their target price on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Piper Sandler boosted their price target on Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Scotiabank upped their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $206.56.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the sale, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 2.9%

NYSE PSX opened at $240.50 on Tuesday. The business has a fifty day moving average price of $193.87 and a two-hundred day moving average price of $176.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a fifty-two week low of $121.24 and a fifty-two week high of $240.67. The stock has a market capitalization of $95.96 billion, a PE ratio of 13.70, a PEG ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same quarter last year, the company posted $2.38 EPS. Equities analysts expect that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Phillips 66 announced that its board has authorized a share repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.