Ground Swell Capital LLC Buys Shares of 1,640 Phillips 66 (NYSE:PSX)

Ground Swell Capital LLC bought a new stake in Phillips 66 (NYSE:PSX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,640 shares of the oil and gas company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Forum Financial Management LP lifted its holdings in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after acquiring an additional 77 shares during the period. CWC Advisors LLC. increased its position in shares of Phillips 66 by 1.0% in the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company’s stock valued at $1,110,000 after buying an additional 92 shares in the last quarter. Hager Investment Management Services LLC increased its position in shares of Phillips 66 by 7.2% in the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 96 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 97 shares in the last quarter. Finally, Lantern Wealth Advisors LLC increased its position in shares of Phillips 66 by 4.7% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $122.50 on Thursday. The firm has a market capitalization of $49.50 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.09. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business’s 50-day simple moving average is $123.45 and its 200-day simple moving average is $118.89.

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

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s payout ratio is currently 115.38%.

Insiders Place Their Bets

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 1,939 shares of company stock worth $237,725. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSX. Compass Point began coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “buy” rating for the company. Raymond James Financial set a $142.00 price target on Phillips 66 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Evercore ISI started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Finally, TD Cowen lifted their price objective on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.20.

Phillips 66 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.