Vise Technologies Inc. Buys New Position in Phillips 66 $PSX

Vise Technologies Inc. purchased a new position in Phillips 66 (NYSE:PSX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 17,531 shares of the oil and gas company’s stock, valued at approximately $2,091,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Elliott Investment Management L.P. grew its holdings 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 during the last quarter. Chronos Wealth Management LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at $281,000. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $1,457,000. Evergreen Wealth Solutions LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $292,000. Finally, Jump Financial LLC increased its stake in Phillips 66 by 307.1% in the 1st quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after purchasing an additional 8,506 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $140.74 on Wednesday. The stock has a market capitalization of $56.71 billion, a P/E ratio of 38.45, a P/E/G ratio of 1.81 and a beta of 1.08. The business has a 50-day moving average of $133.44 and a two-hundred day moving average of $125.46. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period last year, the business earned $2.04 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Piper Sandler raised their price target on shares of Phillips 66 from $155.00 to $159.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.56.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by corporate insiders.

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.