Intech Investment Management LLC Purchases 42,457 Shares of Phillips 66 (NYSE:PSX)

Intech Investment Management LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 40.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,221 shares of the oil and gas company’s stock after purchasing an additional 42,457 shares during the period. Intech Investment Management LLC’s holdings in Phillips 66 were worth $20,642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. MQS Management LLC bought a new stake in Phillips 66 during the second quarter worth about $334,000. XTX Topco Ltd bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $534,000. Altrius Capital Management Inc lifted its stake in shares of Phillips 66 by 1.4% in the 2nd quarter. Altrius Capital Management Inc now owns 29,561 shares of the oil and gas company’s stock valued at $4,173,000 after acquiring an additional 400 shares during the last quarter. Thomist Capital Management LP bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $14,969,000. Finally, Sienna Gestion bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $5,227,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.7 %

PSX stock opened at $132.56 on Friday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The business’s 50 day moving average price is $135.37 and its two-hundred day moving average price is $143.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market capitalization of $55.49 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

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

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. Phillips 66’s payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Wells Fargo & Company boosted their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Insider Buying and Selling

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 value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by company insiders.

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.