Hamilton Capital LLC Purchases Shares of 3,409 Phillips 66 $PSX

Hamilton Capital LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 3,409 shares of the oil and gas company’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SWAN Capital LLC boosted its holdings in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. NFSG Corp increased its stake in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth about $27,000. Compass Financial Management LLC purchased a new position in shares of Phillips 66 in the 2nd quarter worth about $28,000. Finally, Kelleher Financial Advisors acquired a new position in shares of Phillips 66 in the 2nd quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $240.58 on Friday. 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 1-year low of $126.74 and a 1-year high of $246.95. The company has a market capitalization of $96.00 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.18 and a beta of 0.68. The business has a 50-day moving average of $204.55 and a 200-day moving average of $182.15.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The business 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 last year, the business posted $2.38 EPS. On average, equities analysts anticipate that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given 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 declared that its board has authorized a share repurchase plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. Piper Sandler boosted their target price on Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $206.56.

Insider Activity

In other news, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the sale, the executive vice president owned 61,595 shares in the company, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction on 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 approximately $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,507 shares of company stock worth $21,770,810 over the last three months. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.