MSH Capital Advisors LLC Makes New $549,000 Investment in Phillips 66 $PSX

MSH Capital Advisors LLC bought a new stake in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,250 shares of the oil and gas company’s stock, valued at approximately $549,000.

A number of other hedge funds have also made changes to their positions in PSX. NFSG Corp grew its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC acquired a new position in Phillips 66 during the first quarter worth about $27,000. Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 in the second quarter valued at about $29,000. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the second quarter valued at about $30,000. Finally, SWAN Capital LLC grew its position in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSX. UBS Group lifted their price objective on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. The Goldman Sachs Group upped their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. BMO Capital Markets increased their target price on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group upped their price objective on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,507 shares of company stock worth $21,770,810 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $242.53 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The firm has a market cap of $96.77 billion, a PE ratio of 13.82, a P/E/G ratio of 0.18 and a beta of 0.68. The firm has a 50 day simple moving average of $196.37 and a 200-day simple moving average of $178.31. Phillips 66 has a 1-year low of $122.13 and a 1-year high of $244.73.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the business earned $2.38 earnings per share. On average, equities analysts expect that Phillips 66 will post 24.44 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 28.95%.

Phillips 66 declared that its board has approved a share buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.