Mariner LLC Boosts Holdings in Phillips 66 $PSX

Mariner LLC raised its position in Phillips 66 (NYSE:PSX) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,081,027 shares of the oil and gas company’s stock after purchasing an additional 38,893 shares during the period. Mariner LLC owned 0.27% of Phillips 66 worth $147,058,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSX. Loudon Investment Management LLC bought a new position in shares of Phillips 66 in the third quarter worth $208,000. Morse Asset Management Inc raised its position in shares of Phillips 66 by 2,014.1% in the third quarter. Morse Asset Management Inc now owns 1,945 shares of the oil and gas company’s stock worth $265,000 after buying an additional 1,853 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Phillips 66 by 50.1% during the third quarter. Mercer Global Advisors Inc. ADV now owns 85,587 shares of the oil and gas company’s stock valued at $11,642,000 after buying an additional 28,552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Phillips 66 by 154.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,739 shares of the oil and gas company’s stock valued at $17,879,000 after buying an additional 80,063 shares during the period. Finally, L2 Asset Management LLC grew its position in Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after buying an additional 72 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $173.56 on Tuesday. The firm has a market capitalization of $69.55 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $178.38. The business’s 50-day moving average price is $152.11 and its 200-day moving average price is $140.46.

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

Phillips 66 Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Raymond James Financial boosted their price objective on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Citigroup raised their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.33.

Insider Transactions at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 84,688 shares of company stock worth $14,066,145. Corporate insiders own 0.22% of the company’s stock.

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.