Phillips 66 $PSX Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in Phillips 66 (NYSE:PSX) by 4,710.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,609 shares of the oil and gas company’s stock after purchasing an additional 96,559 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Phillips 66 were worth $11,764,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC grew its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new position in shares of Phillips 66 in the 1st quarter worth $29,000. Webster Bank N. A. raised its position in shares of Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Nova Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the first quarter valued at $37,000. Finally, GKV Capital Management Co. Inc. lifted its holdings in shares of Phillips 66 by 111.5% during the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 174 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX opened at $137.80 on Monday. The company has a market capitalization of $55.52 billion, a PE ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company’s 50 day moving average price is $133.20 and its 200 day moving average price is $124.96. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the business posted $2.04 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced 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 is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s payout ratio is 131.15%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSX. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Evercore ISI lifted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Piper Sandler boosted their price target on shares of Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and a consensus target price of $143.56.

Insider Activity

In other Phillips 66 news, 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 value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate 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.