Sienna Gestion Invests $5.23 Million in Phillips 66 (NYSE:PSX)

Sienna Gestion acquired a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,046 shares of the oil and gas company’s stock, valued at approximately $5,227,000.

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 during the first quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 during the second quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

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

Phillips 66 Stock Up 1.6 %

Shares of NYSE PSX opened at $130.31 on Thursday. The firm’s fifty day moving average is $135.46 and its 200 day moving average is $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 company has a market cap of $54.54 billion, a price-to-earnings 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 data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 earnings per share. On average, equities research analysts expect that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler lowered their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho reduced their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.29.

Phillips 66 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.