Private Management Group Inc. Acquires Shares of 16,109 Phillips 66 $PSX

Private Management Group Inc. bought a new stake in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,109 shares of the oil and gas company’s stock, valued at approximately $1,922,000.

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

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,986 shares of company stock worth $8,955,291 over the last ninety days. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $133.78 on Friday. The firm has a 50 day simple moving average of $134.33 and a two-hundred day simple moving average of $127.08. The stock has a market cap of $53.90 billion, a PE ratio of 36.55, a P/E/G 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 $143.25. 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 posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the previous year, the firm posted $2.04 EPS. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid 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 dividend payout ratio is currently 131.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PSX shares. Bank of America lowered Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. UBS Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research note on Monday, November 10th. Finally, Mizuho increased their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $145.71.

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.