KG&L Capital Management LLC Invests $237,000 in Phillips 66 (NYSE:PSX)

KG&L Capital Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,320 shares of the oil and gas company’s stock, valued at approximately $237,000.

Other hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in Phillips 66 during the 2nd quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new stake in Phillips 66 during the 2nd quarter worth about $26,000. Manchester Financial Inc. purchased a new stake in Phillips 66 during the 2nd quarter worth about $32,000. Coastal Capital Group Inc. purchased a new stake in Phillips 66 during the 2nd quarter worth about $37,000. Finally, TCG Advisors LP purchased a new stake in Phillips 66 during the 1st quarter worth about $38,000. Institutional investors own 68.71% of the company’s stock.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

A number of brokerages recently issued reports on PSX. Wells Fargo & Co increased their price objective on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Cowen increased their price objective on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Scotiabank began coverage on Phillips 66 in a report on Tuesday, September 3rd. They set an “outperform” rating on the stock. Finally, Macquarie began coverage on Phillips 66 in a report on Thursday, September 5th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Buy” and a consensus price target of $113.80.

Shares of NYSE:PSX traded down $0.16 on Friday, hitting $106.44. The company’s stock had a trading volume of 145,703 shares, compared to its average volume of 2,619,805. The company has a 50-day simple moving average of $100.93 and a 200 day simple moving average of $95.32. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $112.60. The company has a market capitalization of $45.22 billion, a PE ratio of 9.10, a PEG ratio of 2.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The firm had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. During the same quarter last year, the firm posted $2.80 EPS. On average, equities research analysts expect that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.90 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.60 annualized dividend and a dividend yield of 3.38%. Phillips 66’s payout ratio is currently 30.74%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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