KPP Advisory Services LLC Buys Shares of 1,793 Phillips 66 $PSX

KPP Advisory Services LLC purchased a new position in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,793 shares of the oil and gas company’s stock, valued at approximately $214,000.

Other large investors also recently modified their holdings of the company. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after purchasing an additional 1,431,450 shares during the period. Nuveen LLC bought a new stake in Phillips 66 in the first quarter worth approximately $156,482,000. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after buying an additional 653,248 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Phillips 66 news, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.0%

NYSE PSX opened at $132.97 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $128.99 and a 200 day simple moving average of $120.43. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The firm has a market capitalization of $53.74 billion, a P/E ratio of 31.96, a PEG ratio of 1.91 and a beta of 1.11.

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. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the business posted $2.31 EPS. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio is currently 115.38%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSX. Piper Sandler lifted their price objective on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. TD Cowen lifted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Finally, Raymond James Financial increased their price target on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.19.

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.