Haverford Trust Co Buys Shares of 13,158 Phillips 66 $PSX

Haverford Trust Co bought a new stake in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,158 shares of the oil and gas company’s stock, valued at approximately $2,224,000.

Other institutional investors have also recently made changes to their positions in the company. NFSG Corp lifted its holdings in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Axiom Investment Management LLC acquired a new stake in Phillips 66 during the 1st quarter worth $27,000. Compass Financial Management LLC purchased a new stake in shares of Phillips 66 during the second quarter worth $28,000. Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 during the second quarter worth $29,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the second quarter valued at about $30,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.4%

PSX stock opened at $243.34 on Friday. The firm has a market cap of $97.10 billion, a PE ratio of 13.87, 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. The firm’s 50 day moving average price is $198.87 and its 200-day moving average price is $179.44. Phillips 66 has a one year low of $124.88 and a one year high of $246.95.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $2.38 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 23.86 EPS for the current year.

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

Phillips 66 Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Morgan Stanley upped their price target on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Raymond James Financial upped their price target on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently 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.