Foster & Motley Inc. Takes Position in Phillips 66 $PSX

Foster & Motley Inc. purchased a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,225 shares of the oil and gas company’s stock, valued at approximately $545,000.

Several other institutional investors have also made changes to their positions in the stock. First National Bank of Omaha purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $3,453,000. Navigoe LLC purchased a new position in shares of Phillips 66 during the 2nd quarter valued at $35,000. Hurlow Wealth Management Group Inc. acquired a new position in shares of Phillips 66 in the second quarter worth $204,000. Aljian Capital Management LLC purchased a new stake in shares of Phillips 66 during the second quarter worth $380,000. Finally, Energy Income Partners LLC purchased a new stake in shares of Phillips 66 during the second quarter worth $19,382,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.2%

Shares of NYSE:PSX opened at $239.46 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $95.55 billion, a PE ratio of 13.64, a P/E/G ratio of 0.18 and a beta of 0.68. Phillips 66 has a 1 year low of $122.25 and a 1 year high of $246.95. The firm has a fifty day moving average price of $197.59 and a 200 day moving average price of $178.99.

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

Phillips 66 declared that its board has authorized a share buyback program on Friday, July 31st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Phillips 66 Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% 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. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 in the last quarter. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their price target on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Barclays lifted their price target on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $206.56.

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.