Phillips 66 (NYSE:PSX) Shares Acquired by Savant Capital LLC

Savant Capital LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 11,910 shares of the oil and gas company’s stock after acquiring an additional 255 shares during the quarter. Savant Capital LLC’s holdings in Phillips 66 were worth $1,681,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in shares of Phillips 66 during the 2nd quarter worth $17,670,000. M&G Plc acquired a new position in Phillips 66 in the second quarter valued at $3,596,000. Duality Advisers LP purchased a new position in Phillips 66 during the first quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after buying an additional 36,116 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.1 %

NYSE:PSX opened at $127.95 on Tuesday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The business’s 50-day moving average is $136.90 and its two-hundred day moving average is $144.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market capitalization of $53.56 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $3.87 EPS. Research analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.60%. Phillips 66’s payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PSX. Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Argus reaffirmed a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.85.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

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.