Phillips 66 $PSX Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,933 shares of the oil and gas company’s stock after purchasing an additional 649 shares during the period. Johnson Investment Counsel Inc.’s holdings in Phillips 66 were worth $2,975,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC boosted its stake in Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after purchasing an additional 1,431,450 shares during the period. Nuveen LLC acquired a new stake in Phillips 66 during the 1st quarter worth $156,482,000. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. Finally, Invesco Ltd. boosted its stake in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $127.01 on Monday. The company has a 50-day simple moving average of $129.51 and a 200-day simple moving average of $120.56. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $51.33 billion, a PE ratio of 30.53, a P/E/G ratio of 1.86 and a beta of 1.11. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm posted $2.31 EPS. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim bought 1,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, with a total value 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 position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PSX shares. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research report on Wednesday, June 18th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Jefferies Financial Group upped their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday. Scotiabank restated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Mizuho upped their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.75.

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.