23,472 Shares in Phillips 66 $PSX Bought by One Way Holdings LLC

One Way Holdings LLC bought a new position in Phillips 66 (NYSE:PSX) during the third quarter, Holdings Channel reports. The firm bought 23,472 shares of the oil and gas company’s stock, valued at approximately $5,993,000.

Several other large investors have also added to or reduced their stakes in PSX. NFSG Corp lifted its stake in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Phillips 66 during the first quarter worth $27,000. Compass Financial Management LLC bought a new stake in Phillips 66 in the second quarter worth about $28,000. Kelleher Financial Advisors bought a new position in Phillips 66 during the second quarter valued at $29,000. Finally, J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the second quarter valued at about $30,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. BMO Capital Markets increased their price target on shares of Phillips 66 from $260.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, September 17th. Piper Sandler increased their target price on Phillips 66 from $264.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $276.00 price objective on shares of Phillips 66 in a report on Sunday, October 11th. Finally, Barclays boosted their price objective on shares of Phillips 66 from $216.00 to $282.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $269.47.

Phillips 66 Stock Up 0.1%

NYSE:PSX opened at $283.18 on Monday. The firm has a 50-day simple moving average of $266.19 and a two-hundred day simple moving average of $198.51. The firm has a market cap of $110.46 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.15 and a beta of 0.69. Phillips 66 has a fifty-two week low of $127.16 and a fifty-two week high of $299.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.34.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.73 by $2.35. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $44.91 billion. During the same period last year, the firm posted $2.52 earnings per share. Analysts predict that Phillips 66 will post 33.11 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. Phillips 66’s payout ratio is currently 16.22%.

Phillips 66 announced that its board has initiated a stock repurchase program on Friday, July 31st that allows the company to repurchase $10 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Phillips 66

In other news, EVP Richard Harbison sold 52,100 shares of Phillips 66 stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 23,400 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total value of $6,202,404.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $16,326,370.70. The trade was a 27.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,800 shares of company stock worth $25,016,566 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.