Sharp Financial Services LLC Has $315,000 Stock Position in Phillips 66 $PSX

Sharp Financial Services LLC grew its stake in Phillips 66 (NYSE:PSX) by 32.6% during the second quarter, HoldingsChannel.com reports. The firm owned 2,643 shares of the oil and gas company’s stock after buying an additional 650 shares during the period. Sharp Financial Services LLC’s holdings in Phillips 66 were worth $315,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. UBS Group raised their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Morgan Stanley raised their price objective on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $140.75.

Phillips 66 Stock Performance

PSX opened at $127.01 on Monday. The business’s 50-day moving average price is $129.51 and its two-hundred day moving average price is $120.56. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.86 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter last year, the business posted $2.31 EPS. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

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.