Phillips 66 (NYSE:PSX) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 119.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,872 shares of the oil and gas company’s stock after buying an additional 3,736 shares during the period. Westwood Holdings Group Inc.’s holdings in Phillips 66 were worth $970,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 during the first quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the second quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $28,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’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 of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Barclays upped their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, 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 research report on Friday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Stock Performance

PSX stock opened at $129.97 on Monday. The stock’s 50 day simple moving average is $135.20 and its 200 day simple moving average is $143.65. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $55.10 billion, a P/E ratio of 10.00, a P/E/G ratio of 4.67 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 (NYSE:PSX) last issued 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 net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the prior year, the company earned $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s payout ratio is currently 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.