Cheviot Value Management LLC Buys Shares of 21,302 Phillips 66 (NYSE:PSX)

Cheviot Value Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,302 shares of the oil and gas company’s stock, valued at approximately $3,007,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after buying an additional 111,261 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.9 %

Phillips 66 stock opened at $131.11 on Tuesday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. 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 firm has a market cap of $55.58 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. The firm’s 50 day moving average price is $135.02 and its two-hundred day moving average price is $143.52.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the company posted $3.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 3.51%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSX shares. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Piper Sandler dropped their target price on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company boosted their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Scotiabank dropped their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

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.