Csenge Advisory Group Invests $1.02 Million in Phillips 66 $PSX

Csenge Advisory Group purchased a new position in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,031 shares of the oil and gas company’s stock, valued at approximately $1,019,000.

Several other large investors have also recently added to or reduced their stakes in PSX. NFSG Corp boosted its position in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at about $27,000. SWAN Capital LLC raised its holdings in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. Kelleher Financial Advisors acquired a new position in Phillips 66 during the 2nd quarter worth approximately $29,000. Finally, J.Safra Asset Management Corp acquired a new position in Phillips 66 during the 2nd quarter worth approximately $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. BMO Capital Markets raised their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Barclays lifted their price target on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $242.53 on Thursday. Phillips 66 has a fifty-two week low of $122.13 and a fifty-two week high of $244.73. The business has a 50 day moving average price of $196.37 and a two-hundred day moving average price of $178.31. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market cap of $96.77 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 28.95%.

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

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction dated 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 owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by insiders.

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.