Phoenix Financial Ltd. Has $349,000 Stake in Phillips 66 $PSX

Phoenix Financial Ltd. decreased its position in shares of Phillips 66 (NYSE:PSX) by 47.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,932 shares of the oil and gas company’s stock after selling 2,663 shares during the quarter. Phoenix Financial Ltd.’s holdings in Phillips 66 were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PSX. Elliott Investment Management L.P. lifted its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC lifted its holdings in 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 worth $172,564,000 after buying an additional 1,431,450 shares during the period. Nuveen LLC acquired a new position in Phillips 66 during the 1st quarter worth about $156,482,000. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares during the period. Finally, Invesco Ltd. lifted its holdings in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’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 completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. UBS Group lifted their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Barclays boosted their price objective on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Mizuho boosted their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Finally, Evercore ISI boosted their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Stock Up 2.0%

Shares of NYSE:PSX opened at $131.23 on Thursday. The company has a market capitalization of $53.03 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 1.79 and a beta of 1.11. 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 business’s 50-day moving average is $131.02 and its 200-day moving average is $121.23. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the company posted $2.31 EPS. Equities research 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 given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is presently 115.38%.

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.