MQS Management LLC Acquires Shares of 2,363 Phillips 66 (NYSE:PSX)

MQS Management LLC bought a new stake in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,363 shares of the oil and gas company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. XTX Topco Ltd purchased a new position in Phillips 66 in the second quarter worth $534,000. Altrius Capital Management Inc grew its stake in shares of Phillips 66 by 1.4% during the 2nd quarter. Altrius Capital Management Inc now owns 29,561 shares of the oil and gas company’s stock worth $4,173,000 after purchasing an additional 400 shares during the period. Thomist Capital Management LP purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $14,969,000. Sienna Gestion acquired a new stake in shares of Phillips 66 in the second quarter valued at about $5,227,000. Finally, Hsbc Holdings PLC boosted its holdings in Phillips 66 by 14.7% during the second quarter. Hsbc Holdings PLC now owns 1,388,407 shares of the oil and gas company’s stock worth $195,973,000 after buying an additional 177,684 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target 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. Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. TD Cowen dropped their price target 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. Scotiabank decreased their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Price Performance

PSX stock opened at $129.97 on Friday. The stock has a market capitalization of $55.10 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The stock’s fifty day simple moving average is $135.20 and its 200-day simple moving average is $143.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) 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 analyst estimates of $37.79 billion. During the same period last year, the company earned $3.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by 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.