Citizens Financial Group Inc. RI Increases Stock Position in Phillips 66 (NYSE:PSX)

Citizens Financial Group Inc. RI increased its stake in shares of Phillips 66 (NYSE:PSX) by 68.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,692 shares of the oil and gas company’s stock after purchasing an additional 1,497 shares during the period. Citizens Financial Group Inc. RI’s holdings in Phillips 66 were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC lifted its holdings in shares of Phillips 66 by 11.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 426 shares during the period. Brown Advisory Inc. grew its stake in shares of Phillips 66 by 1.8% during the 4th quarter. Brown Advisory Inc. now owns 57,201 shares of the oil and gas company’s stock valued at $7,616,000 after purchasing an additional 984 shares during the period. TrinityPoint Wealth LLC increased its position in shares of Phillips 66 by 14.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 672 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Phillips 66 by 55.1% in the fourth quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock worth $4,477,000 after buying an additional 11,945 shares during the last quarter. Finally, Assetmark Inc. grew its position in Phillips 66 by 792.6% during the fourth quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 1,292 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $130.31 on Thursday. The firm has a fifty day simple moving average of $135.46 and a two-hundred day simple moving average of $143.87. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $54.54 billion, a P/E ratio of 10.02, a PEG ratio of 4.53 and a beta of 1.33.

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

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. 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. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday. Barclays increased their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.29.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company Profile

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.