Phillips 66 (NYSE:PSX) Shares Acquired by Second Line Capital LLC

Second Line Capital LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 88.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,091 shares of the oil and gas company’s stock after purchasing an additional 1,449 shares during the period. Second Line Capital LLC’s holdings in Phillips 66 were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PSX. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 4.0% in the 1st 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 acquiring an additional 1,578,669 shares during the period. Wellington Management Group LLP increased its stake in Phillips 66 by 20.3% in 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 purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp boosted its stake 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 worth $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners grew 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 worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

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 transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lifted their target price on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Piper Sandler lowered their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Trading Up 0.3 %

Shares of PSX opened at $131.05 on Monday. The firm’s 50-day moving average is $134.30 and its two-hundred day moving average is $142.94. The firm has a market capitalization of $55.56 billion, a P/E ratio of 10.08, a PEG ratio of 5.22 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.87 earnings per share. On average, research analysts predict that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared 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 dividend yield of 3.51%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 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.