Quantinno Capital Management LP Grows Stake in Phillips 66 $PSX

Quantinno Capital Management LP lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 9.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 294,580 shares of the oil and gas company’s stock after acquiring an additional 26,428 shares during the period. Quantinno Capital Management LP owned 0.07% of Phillips 66 worth $53,667,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. NFSG Corp boosted its holdings in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. SWAN Capital LLC raised its holdings in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Finally, Dorato Capital Management acquired a new position in shares of Phillips 66 in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the sale, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 45,107 shares of company stock worth $8,057,584. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 0.5%

PSX stock opened at $206.97 on Thursday. The company has a fifty day moving average price of $184.11 and a 200 day moving average price of $169.90. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08. The company has a market cap of $82.98 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) EPS. Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Analysts Set New Price Targets

A number of research analysts recently commented on PSX shares. Piper Sandler reaffirmed a “neutral” rating and issued a $208.00 target price on shares of Phillips 66 in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Argus raised their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. TD Cowen lifted their target price on Phillips 66 from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.