Bleakley Financial Group LLC Acquires Shares of 13,202 Phillips 66 $PSX

Bleakley Financial Group LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,202 shares of the oil and gas company’s stock, valued at approximately $1,575,000.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of Phillips 66 during the first quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSX shares. Raymond James Financial reiterated an “outperform” rating and set a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Mizuho raised their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Phillips 66 Stock Performance

Shares of PSX stock opened at $135.07 on Friday. The firm has a market cap of $54.58 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 1.78 and a beta of 1.11. 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 52 week low of $91.01 and a 52 week high of $142.35. The firm’s 50-day simple moving average is $131.51 and its two-hundred day simple moving average is $121.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping 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 net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s payout ratio is currently 115.38%.

Insider Activity at Phillips 66

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