Sapient Capital LLC Invests $449,000 in Phillips 66 $PSX

Sapient Capital LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,469 shares of the oil and gas company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Oppenheimer & Co. Inc. increased its position in shares of Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares in the last quarter. First National Bank of Omaha acquired a new stake in shares of Phillips 66 during the third quarter worth about $2,357,000. TD Asset Management Inc increased its position in shares of Phillips 66 by 15.5% during the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after purchasing an additional 23,364 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Phillips 66 during the third quarter worth about $2,412,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Phillips 66 by 15.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,172,158 shares of the oil and gas company’s stock worth $159,437,000 after purchasing an additional 160,407 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 said it will move forward with the Zeus Gas Plant in the Permian Basin and a third Coastal Bend Fractionator in Texas, both of which are expected to come online in 2028 and expand its natural gas and NGL processing network. Reuters article
• Positive Sentiment: The projects fit within Phillips 66’s planned $2.0 billion to $2.5 billion capital spending program, reinforcing management’s commitment to growth while keeping the investment plan contained. Offshore Technology article
• Positive Sentiment: Investors are also reacting to continued momentum in PSX shares and recent earnings strength, which adds support to the stock’s valuation after the company beat Q1 profit estimates last month. Zacks article

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% 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, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 114,029 shares of company stock worth $19,641,455 over the last quarter. 0.40% of the stock is owned by company insiders.

Phillips 66 Price Performance

Shares of PSX opened at $182.59 on Wednesday. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61. The stock’s 50 day moving average is $171.39 and its two-hundred day moving average is $152.57. The firm has a market capitalization of $73.21 billion, a PE ratio of 17.99, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Jefferies Financial Group cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. The Goldman Sachs Group reiterated a “neutral” rating and set a $207.00 target price on shares of Phillips 66 in a research report on Tuesday. Mizuho lifted their target price on Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. TD Cowen raised their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $187.11.

Phillips 66 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.