Phillips 66 $PSX Position Increased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,004 shares of the oil and gas company’s stock after buying an additional 544 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Phillips 66 were worth $1,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its position in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $29,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $130.42 on Tuesday. The firm has a market cap of $52.71 billion, a PE ratio of 31.35, a PEG ratio of 1.79 and a beta of 1.11. The firm’s 50 day moving average price is $130.67 and its 200 day moving average price is $121.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter last year, the company posted $2.31 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Transactions at Phillips 66

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

Analyst Ratings Changes

A number of analysts have recently issued reports on PSX shares. TD Cowen increased their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Piper Sandler increased their price target on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Barclays increased their price target on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Finally, UBS Group raised their price objective on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.50.

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.