9,109 Shares in Phillips 66 $PSX Purchased by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. purchased a new stake in Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 9,109 shares of the oil and gas company’s stock, valued at approximately $1,540,000. Phillips 66 comprises about 1.1% of Oakmont Investment Advisors Inc.’s portfolio, making the stock its 26th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. NFSG Corp raised its holdings in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $27,000. Compass Financial Management LLC acquired a new position in shares of Phillips 66 during the second quarter worth $28,000. Kelleher Financial Advisors acquired a new position in shares of Phillips 66 during the second quarter worth $29,000. Finally, J.Safra Asset Management Corp purchased a new position in Phillips 66 in the 2nd quarter valued at about $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.2%

Shares of Phillips 66 stock opened at $255.13 on Friday. The stock’s fifty day moving average is $214.38 and its 200-day moving average is $185.89. The firm has a market capitalization of $101.80 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.19 and a beta of 0.71. 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 has a 12-month low of $126.74 and a 12-month high of $260.68.

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, beating analysts’ consensus estimates of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter last year, the company posted $2.38 EPS. Equities analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current year.

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

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Insider Activity

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

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on Phillips 66 from $239.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group upped their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.94.

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.