Sanctuary Advisors LLC Makes New Investment in Phillips 66 $PSX

Sanctuary Advisors LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 81,320 shares of the oil and gas company’s stock, valued at approximately $13,747,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Phillips 66 by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares in the last quarter. BlackRock Inc. purchased a new position in Phillips 66 in the second quarter valued at $5,766,779,000. State Street Corp increased its holdings in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after buying an additional 175,616 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after acquiring an additional 45,340 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Phillips 66 in the second quarter worth about $1,093,206,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PSX. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Morgan Stanley increased their price target on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Jefferies Financial Group raised their price objective on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Phillips 66 Stock Up 0.2%

Shares of NYSE PSX opened at $243.34 on Monday. The company’s 50-day simple moving average is $198.87 and its 200-day simple moving average is $179.70. Phillips 66 has a 52-week low of $124.88 and a 52-week high of $246.95. The firm has a market cap of $97.10 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter in the prior year, the firm earned $2.38 EPS. Equities analysts predict that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 announced that its Board of Directors has approved a share buyback plan on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is owned by insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.