West Family Investments Inc. Purchases Shares of 4,280 Phillips 66 $PSX

West Family Investments Inc. purchased a new stake in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,280 shares of the oil and gas company’s stock, valued at approximately $724,000.

Several other large investors have also modified their holdings of PSX. NFSG Corp raised its holdings in Phillips 66 by 105.6% in the 1st 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 period. Axiom Investment Management LLC bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $27,000. SWAN Capital LLC boosted its position in shares of 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 period. Compass Financial Management LLC acquired a new stake in shares of Phillips 66 in the second quarter worth $28,000. Finally, Kelleher Financial Advisors bought a new position in Phillips 66 during the second quarter worth $29,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $4.34 during midday trading on Tuesday, reaching $259.43. 2,509,475 shares of the company traded hands, compared to its average volume of 2,822,933. The stock’s 50-day simple moving average is $217.81 and its 200-day simple moving average is $187.47. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $261.00. The firm has a market cap of $103.52 billion, a PE ratio of 14.78, a PEG ratio of 0.19 and a beta of 0.71.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter in the previous year, the company posted $2.38 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 24.07 earnings per share for the current fiscal year.

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

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Phillips 66’s dividend payout ratio is 28.95%.

Insider Transactions at Phillips 66

In related news, CFO Kevin Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was 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 of the company’s stock, valued at $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,507 shares of company stock worth $21,770,810 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Argus upped their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Finally, Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.76.

Phillips 66 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.