Ruggaard & Associates LLC Acquires Shares of 2,254 Phillips 66 $PSX

Ruggaard & Associates LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,254 shares of the oil and gas company’s stock, valued at approximately $381,000.

A number of other hedge funds have also bought and sold shares of the company. Equitable Holdings Inc. bought a new position in Phillips 66 during the 2nd quarter worth approximately $3,546,000. Centaurus Financial Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $290,000. Pacific Heights Asset Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $16,905,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $1,245,000. Finally, Jefferies Financial Group Inc. bought a new stake in Phillips 66 during the second quarter valued at $696,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 100,507 shares of company stock valued at $21,770,810. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. Finally, Argus raised their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Phillips 66 Trading Down 0.7%

NYSE:PSX opened at $240.58 on Friday. The stock has a market cap of $96.00 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95. The business has a fifty day moving average of $204.55 and a 200-day moving average of $182.15.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. Equities analysts predict that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has initiated a share repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 28.95%.

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.