Vestor Capital LLC Increases Holdings in Phillips 66 $PSX

Vestor Capital LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 431.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,018 shares of the oil and gas company’s stock after purchasing an additional 8,133 shares during the period. Vestor Capital LLC’s holdings in Phillips 66 were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its position in Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Elliott Investment Management L.P. increased its stake in shares of Phillips 66 by 1,929.0% during 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 purchasing an additional 14,950,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after purchasing an additional 537,245 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after purchasing an additional 682,459 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSX. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets boosted their price objective on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. 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 report on Monday, September 15th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $145.71.

Phillips 66 Stock Performance

Shares of PSX opened at $133.78 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25. The stock’s 50-day simple moving average is $134.33 and its 200 day simple moving average is $127.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the prior year, the business posted $2.04 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Insider Activity

In related news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The stock was 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 owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $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. Insiders sold 64,986 shares of company stock worth $8,955,291 in the last three months. Corporate insiders own 0.22% of the company’s stock.

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.