Transamerica Financial Advisors LLC Makes New Investment in Phillips 66 $PSX

Transamerica Financial Advisors LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,310 shares of the oil and gas company’s stock, valued at approximately $391,000.

Other hedge funds have also recently modified their holdings of the company. Key Client Fiduciary Advisors LLC grew its holdings in Phillips 66 by 3.5% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 55 shares during the period. Threadgill Financial LLC lifted its holdings in Phillips 66 by 3.5% in the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 58 shares during the period. Calamos Wealth Management LLC boosted its position in Phillips 66 by 2.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock worth $521,000 after purchasing an additional 60 shares in the last quarter. Somerset Trust Co boosted its position in Phillips 66 by 0.3% in the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock worth $3,601,000 after purchasing an additional 63 shares in the last quarter. Finally, Clifford Group LLC grew its stake in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.3%

Shares of NYSE:PSX opened at $242.27 on Thursday. The business’s 50 day moving average price is $203.06 and its 200-day moving average price is $181.56. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95. The firm has a market capitalization of $96.67 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $2.38 EPS. On average, equities research analysts forecast that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Phillips 66 declared that its board has approved a stock buyback plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. TD Cowen lifted their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. The trade was a 32.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock worth $21,770,810 over the last three months. Company insiders own 0.40% of the company’s stock.

Phillips 66 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.