SPC Financial Inc. Grows Position in Phillips 66 $PSX

SPC Financial Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,235 shares of the oil and gas company’s stock after buying an additional 100 shares during the quarter. SPC Financial Inc.’s holdings in Phillips 66 were worth $267,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. raised its stake in Phillips 66 by 1,929.0% during the first 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 in the last quarter. Chronos Wealth Management LLC purchased a new stake in Phillips 66 during the second quarter valued at $281,000. Wealth Enhancement Advisory Services LLC raised its stake in Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd purchased a new stake in Phillips 66 during the first quarter valued at $253,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in Phillips 66 during the first quarter valued at $1,457,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 3.1%

NYSE PSX opened at $127.01 on Monday. The company’s 50-day moving average price is $129.51 and its 200-day moving average price is $120.56. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market cap of $51.33 billion, a PE ratio of 30.53, a PEG ratio of 1.86 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35.

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

Phillips 66 Dividend Announcement

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. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.8%. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Activity at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased 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 owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was 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 owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 9,850 shares of company stock valued at $1,188,910. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PSX shares. TD Cowen upped their price target on shares of 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 target on shares of Phillips 66 in a research note on Wednesday, June 18th. Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating on the stock. Scotiabank reissued a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. Two investment 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 stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus 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.