Federated Hermes Inc. Acquires 32,623 Shares of Phillips 66 (NYSE:PSX)

Federated Hermes Inc. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 62.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,219 shares of the oil and gas company’s stock after acquiring an additional 32,623 shares during the quarter. Federated Hermes Inc.’s holdings in Phillips 66 were worth $12,030,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Madison Park Capital Advisors LLC boosted its stake in shares of Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Warwick Investment Management Inc. grew its holdings in shares of Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares in the last quarter. MV Capital Management Inc. increased its position in shares of Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the period. HCR Wealth Advisors raised its stake in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its position in Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.5 %

Shares of NYSE PSX opened at $127.32 on Tuesday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market cap of $53.29 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. The company has a 50 day simple moving average of $135.62 and a 200 day simple moving average of $144.07.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the firm earned $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Scotiabank reduced their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Raymond James raised their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.29.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.