Phillips 66 (NYSE:PSX) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in Phillips 66 (NYSE:PSX) by 91.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,140 shares of the oil and gas company’s stock after purchasing an additional 3,886 shares during the quarter. Summit Trail Advisors LLC’s holdings in Phillips 66 were worth $1,149,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSX. Gryphon Financial Partners LLC lifted its holdings in shares of Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 426 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Phillips 66 by 14.9% in 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 in the last quarter. Clearbridge Investments LLC boosted its position in shares of Phillips 66 by 55.1% during the 4th quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock worth $4,477,000 after acquiring an additional 11,945 shares in the last quarter. Assetmark Inc. raised its holdings 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 worth $194,000 after purchasing an additional 1,292 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock worth $35,070,000 after purchasing an additional 1,017 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PSX. Piper Sandler decreased their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a research note on Friday. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays raised their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Scotiabank decreased their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Raymond James boosted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Six 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $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 owned by insiders.

Phillips 66 Stock Down 1.9 %

Shares of Phillips 66 stock opened at $129.97 on Friday. The stock has a 50-day simple moving average of $135.20 and a 200-day simple moving average of $143.67. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The firm has a market cap of $55.10 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

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, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $3.87 earnings per share. On average, equities research analysts expect that Phillips 66 will post 9.1 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. Shareholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.