10,310 Shares in Phillips 66 $PSX Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,310 shares of the oil and gas company’s stock, valued at approximately $1,230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Elliott Investment Management L.P. lifted its holdings in shares of 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. Vanguard Group Inc. raised its position in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after buying an additional 5,978,841 shares during the last quarter. Geode Capital Management LLC lifted its stake in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Phillips 66 by 9,530.9% during 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 acquiring an additional 1,431,450 shares during the last quarter. Finally, Soundwatch Capital LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at about $170,604,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.7%

Shares of PSX stock opened at $135.06 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $54.42 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25. The firm has a fifty day moving average price of $134.44 and a 200-day moving average price of $127.61.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the business earned $2.04 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is currently 131.15%.

Analyst Upgrades and Downgrades

PSX has been the subject of several research reports. Mizuho boosted their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Morgan Stanley boosted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. BMO Capital Markets increased their price target on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $145.71.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,986 shares of company stock worth $8,955,291. Company insiders own 0.22% of the company’s stock.

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.