SCP Investment LP Takes Position in Phillips 66 $PSX

SCP Investment LP acquired a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,000 shares of the oil and gas company’s stock, valued at approximately $387,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after buying an additional 20,742 shares during the period. First National Bank of Omaha bought a new stake in Phillips 66 in the third quarter valued at $2,357,000. TD Asset Management Inc grew its position in Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after acquiring an additional 23,364 shares during the period. Caprock Group LLC acquired a new position in Phillips 66 during the third quarter worth $2,412,000. Finally, PNC Financial Services Group Inc. raised its stake in Phillips 66 by 18.2% during the third quarter. PNC Financial Services Group Inc. now owns 963,629 shares of the oil and gas company’s stock worth $131,073,000 after acquiring an additional 148,129 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $182.54 on Wednesday. The stock has a 50-day simple moving average of $172.41 and a 200 day simple moving average of $155.05. The stock has a market capitalization of $73.19 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 0.26 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $111.37 and a 12-month high of $190.61.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. BMO Capital Markets lifted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $191.28.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 109,085 shares of company stock worth $18,825,546. 0.40% of the stock is currently owned by company insiders.

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.