Stratos Investment Management LLC Has $3.78 Million Holdings in Phillips 66 $PSX

Stratos Investment Management LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,657 shares of the oil and gas company’s stock after buying an additional 1,974 shares during the quarter. Stratos Investment Management LLC’s holdings in Phillips 66 were worth $3,777,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PSX. Elliott Investment Management L.P. boosted 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 in the last quarter. Invesco Ltd. lifted its holdings 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 valued at $588,489,000 after purchasing an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after buying an additional 377,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Phillips 66 by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock worth $383,197,000 after buying an additional 100,321 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim bought 1,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Hayes purchased 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Down 0.9%

PSX stock opened at $128.37 on Friday. The company has a market cap of $51.88 billion, a P/E ratio of 30.86, a PEG ratio of 1.80 and a beta of 1.11. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. 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 business has a fifty day moving average of $130.23 and a 200-day moving average of $120.78.

Phillips 66 (NYSE:PSX) last posted 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. The business had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter last year, the business earned $2.31 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. TD Cowen lifted their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Raymond James Financial boosted their price objective on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Evercore ISI increased their target price on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Mizuho lifted their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $140.75.

About Phillips 66

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.