XTX Topco Ltd Takes $534,000 Position in Phillips 66 (NYSE:PSX)

XTX Topco Ltd purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,786 shares of the oil and gas company’s stock, valued at approximately $534,000.

Several other hedge funds have also modified their holdings of the stock. Manning & Napier Advisors LLC bought a new position in Phillips 66 in the second quarter valued at approximately $17,670,000. M&G Plc bought a new position in Phillips 66 in the second quarter valued at approximately $3,596,000. Duality Advisers LP bought a new position in Phillips 66 in the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Phillips 66 by 14.3% in the fourth 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 purchasing an additional 36,116 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays increased their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Piper Sandler cut their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Down 1.2 %

Shares of PSX stock opened at $129.52 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm’s fifty day moving average price is $134.81 and its two-hundred day moving average price is $143.38. The firm has a market capitalization of $54.91 billion, a P/E ratio of 9.96, a PEG ratio of 4.67 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the business earned $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.55%. Phillips 66’s payout ratio is currently 35.38%.

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.