Xponance Inc. Purchases 12,198 Shares of Phillips 66 $PSX

Xponance Inc. increased its position in Phillips 66 (NYSE:PSX) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,424 shares of the oil and gas company’s stock after acquiring an additional 12,198 shares during the quarter. Xponance Inc.’s holdings in Phillips 66 were worth $9,987,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PSX. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Norges Bank acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $523,755,000. Elliott Investment Management L.P. grew its holdings in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC increased its position in Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after buying an additional 1,532,967 shares during the period. Finally, Soundwatch Capital LLC acquired a new position in shares of Phillips 66 during the second quarter worth approximately $170,604,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PSX shares. Mizuho boosted their target price on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Citigroup boosted their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Wolfe Research upped their price objective on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Argus boosted their price target on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Hold” and an average target price of $160.11.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president directly owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,788 shares of company stock worth $6,067,250. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 1.0%

Shares of NYSE PSX opened at $153.91 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $163.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.30. The business has a fifty day moving average of $144.05 and a two-hundred day moving average of $137.15. The stock has a market cap of $61.68 billion, a PE ratio of 14.22, a PEG ratio of 0.53 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $1.27 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. Phillips 66’s dividend payout ratio is currently 46.95%.

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.