Phillips 66 (NYSE:PSX) Shares Purchased by Aigen Investment Management LP

Aigen Investment Management LP boosted its position in shares of Phillips 66 (NYSE:PSX) by 45.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,723 shares of the oil and gas company’s stock after purchasing an additional 12,461 shares during the quarter. Phillips 66 accounts for about 1.0% of Aigen Investment Management LP’s investment portfolio, making the stock its biggest holding. Aigen Investment Management LP’s holdings in Phillips 66 were worth $5,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $17,670,000. M&G Plc acquired a new stake in Phillips 66 in the 2nd quarter valued at about $3,596,000. Cetera Investment Advisers grew its holdings in Phillips 66 by 318.9% during the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after purchasing an additional 108,515 shares during the period. Finally, Blair William & Co. IL increased its position in Phillips 66 by 4.5% during the first quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company’s stock worth $30,569,000 after buying an additional 8,102 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSX. Scotiabank dropped their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Barclays decreased their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.5 %

NYSE:PSX traded up $0.65 during trading hours on Tuesday, hitting $128.59. 106,261 shares of the company traded hands, compared to its average volume of 2,657,508. The firm’s 50-day simple moving average is $129.87 and its 200-day simple moving average is $136.21. The company has a market cap of $53.11 billion, a PE ratio of 16.43, a PEG ratio of 4.12 and a beta of 1.33. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the company posted $4.63 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts predict that Phillips 66 will post 7.68 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 Profile

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.