Simon Quick Advisors LLC Has $355,000 Position in Phillips 66 $PSX

Simon Quick Advisors LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 29.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,979 shares of the oil and gas company’s stock after buying an additional 670 shares during the quarter. Simon Quick Advisors LLC’s holdings in Phillips 66 were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wolff Wiese Magana LLC raised its position in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter worth about $28,000. Pinpoint Asset Management Ltd bought a new position in shares of Phillips 66 in the 1st quarter worth about $29,000. Webster Bank N. A. raised its position in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Phillips 66 in the 1st quarter worth about $37,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Wells Fargo & Company lifted their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.94.

Insider Buying and Selling at Phillips 66

In related news, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $136.23 on Monday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. 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 business’s 50 day simple moving average is $132.67 and its 200 day simple moving average is $123.64. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the prior year, the business earned $2.04 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 3.5%. Phillips 66’s dividend payout ratio is currently 131.15%.

Phillips 66 Company 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.