5,000 Shares in Phillips 66 $PSX Acquired by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, HoldingsChannel.com reports. The fund purchased 5,000 shares of the oil and gas company’s stock, valued at approximately $596,000.

Other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 in the 1st quarter worth about $29,000. Webster Bank N. A. lifted its stake in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the 1st quarter worth about $37,000. Finally, GKV Capital Management Co. Inc. raised its holdings in Phillips 66 by 111.5% in the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 174 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective 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. Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. TD Cowen boosted their price target on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Hold” and an average price target of $143.56.

Phillips 66 Stock Performance

Shares of PSX stock opened at $137.93 on Thursday. The stock has a market capitalization of $55.57 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a one year low of $91.01 and a one year high of $142.93. The company’s 50-day simple moving average is $133.59 and its 200-day simple moving average is $125.55. 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 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter in the prior year, the firm posted $2.04 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated 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 sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 38,786 shares of company stock valued at $5,348,075. 0.22% of the stock is currently owned by corporate insiders.

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.