Callan Family Office LLC Acquires Shares of 9,814 Phillips 66 $PSX

Callan Family Office LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,814 shares of the oil and gas company’s stock, valued at approximately $1,659,000.

A number of other hedge funds also recently modified their holdings of PSX. NFSG Corp lifted its position in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC bought a new position in Phillips 66 in the 1st quarter valued at about $27,000. SWAN Capital LLC raised its position in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares in the last quarter. Kelleher Financial Advisors acquired a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $29,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $30,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Argus boosted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Citigroup restated a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. The Goldman Sachs Group raised their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial lifted their price target on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. This represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard G. Harbison sold 52,100 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 over the last quarter. 0.40% of the stock is currently owned by insiders.

Phillips 66 Trading Up 0.2%

PSX opened at $243.34 on Monday. The company has a market cap of $97.10 billion, a P/E ratio of 13.87, a PEG ratio of 0.18 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $198.87 and its 200-day moving average is $179.70. Phillips 66 has a 1-year low of $124.88 and a 1-year high of $246.95.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 business had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the prior year, the company earned $2.38 EPS. Equities research analysts predict that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Phillips 66 declared that its board has initiated a stock buyback plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.