3,840 Shares in Phillips 66 (NYSE:PSX) Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,840 shares of the oil and gas company’s stock, valued at approximately $474,000.

Several other large investors have also recently made changes to their positions in the company. Trajan Wealth LLC increased its position in shares of Phillips 66 by 3.9% during the first quarter. Trajan Wealth LLC now owns 40,641 shares of the oil and gas company’s stock worth $5,018,000 after purchasing an additional 1,521 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth approximately $1,457,000. Public Sector Pension Investment Board increased its position in shares of Phillips 66 by 3.1% during the first quarter. Public Sector Pension Investment Board now owns 110,431 shares of the oil and gas company’s stock worth $13,636,000 after purchasing an additional 3,308 shares in the last quarter. Todd Asset Management LLC increased its position in shares of Phillips 66 by 25.1% during the first quarter. Todd Asset Management LLC now owns 235,017 shares of the oil and gas company’s stock worth $29,020,000 after purchasing an additional 47,176 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Phillips 66 by 9.5% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,635 shares of the oil and gas company’s stock worth $576,000 after purchasing an additional 402 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $118.36 on Tuesday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85. The business’s fifty day simple moving average is $123.17 and its 200-day simple moving average is $118.86. The firm has a market cap of $47.83 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the company earned $2.31 EPS. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 4.1%. Phillips 66’s dividend payout ratio is presently 115.38%.

Analysts Set New Price Targets

Several analysts recently commented on PSX shares. Wells Fargo & Company dropped their price target on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Morgan Stanley upped their target price on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Raymond James Financial set a $142.00 target price on Phillips 66 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Compass Point initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating for the company. Finally, Argus upgraded Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

Insider Activity

In related news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,939 shares of company stock worth $237,725 in the last quarter. Insiders own 0.22% of the company’s stock.

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.