ORG Partners LLC Takes $194,000 Position in Phillips 66 (NYSE:PSX)

ORG Partners LLC bought a new stake in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,378 shares of the oil and gas company’s stock, valued at approximately $194,000.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $17,670,000. Duality Advisers LP acquired a new position in shares of Phillips 66 in the 1st quarter valued at $3,596,000. Daiwa Securities Group Inc. increased its holdings in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position 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 valued at $38,530,000 after buying an additional 36,116 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Scotiabank lowered their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $3.04 on Wednesday, hitting $137.70. The company’s stock had a trading volume of 2,134,376 shares, compared to its average volume of 2,660,125. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average price of $138.15 and a 200-day moving average price of $146.04. The company has a market capitalization of $58.38 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping 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 business 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 firm earned $3.87 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.34%. Phillips 66’s dividend payout ratio (DPR) is 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.