Phillips 66 $PSX Shares Purchased by RNC Capital Management LLC

RNC Capital Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,871 shares of the oil and gas company’s stock after purchasing an additional 1,825 shares during the quarter. Phillips 66 comprises approximately 2.1% of RNC Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. RNC Capital Management LLC owned 0.08% of Phillips 66 worth $41,350,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 in the 1st quarter valued at $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $28,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the acquisition, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Down 0.1%

Shares of NYSE PSX opened at $131.44 on Monday. The stock has a market cap of $53.12 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.05 and a beta of 1.15. The business has a 50 day simple moving average of $126.26 and a 200 day simple moving average of $119.34. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the company earned $2.31 EPS. On average, research analysts predict that Phillips 66 will post 6.8 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 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s payout ratio is 115.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company cut their price target on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Morgan Stanley boosted their price target on Phillips 66 from $122.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $145.00 target price (up previously from $144.00) on shares of Phillips 66 in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.60.

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.