iSAM Funds UK Ltd Takes Position in Phillips 66 $PSX

iSAM Funds UK Ltd purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the third quarter, Holdings Channel reports. The institutional investor purchased 13,214 shares of the oil and gas company’s stock, valued at approximately $1,797,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Phillips 66 by 7.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,052 shares of the oil and gas company’s stock valued at $18,914,000 after buying an additional 9,942 shares in the last quarter. South Street Advisors LLC lifted its position in shares of Phillips 66 by 3.3% during the third quarter. South Street Advisors LLC now owns 6,200 shares of the oil and gas company’s stock worth $843,000 after acquiring an additional 200 shares in the last quarter. Vista Cima Wealth Management LLC bought a new position in shares of Phillips 66 in the third quarter worth $458,000. NorthRock Partners LLC boosted its holdings in shares of Phillips 66 by 41.0% in the third quarter. NorthRock Partners LLC now owns 9,522 shares of the oil and gas company’s stock worth $1,295,000 after acquiring an additional 2,768 shares during the period. Finally, Bank OZK grew its position in shares of Phillips 66 by 11.5% in the third quarter. Bank OZK now owns 16,484 shares of the oil and gas company’s stock valued at $2,242,000 after purchasing an additional 1,696 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 38,088 shares of company stock valued at $6,147,655. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $172.85 on Friday. The firm has a market capitalization of $69.27 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.60 and a beta of 0.86. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $178.38. The stock has a fifty day moving average of $151.43 and a 200 day moving average of $140.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period in the previous year, the business earned ($0.15) earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s payout ratio is presently 46.95%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSX. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. Raymond James Financial raised their target price on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Argus lifted their target price on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. The Goldman Sachs Group upped their price target on Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Scotiabank reissued a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $161.33.

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.