Trajan Wealth LLC Acquires New Shares in Phillips 66 $PSX

Trajan Wealth LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 47,199 shares of the oil and gas company’s stock, valued at approximately $7,979,000.

Several other large investors have also modified their holdings of PSX. NFSG Corp raised 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 worth $27,000 after acquiring an additional 75 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $27,000. Compass Financial Management LLC bought a new position in shares of Phillips 66 in the second quarter worth about $28,000. Kelleher Financial Advisors bought a new position in shares of Phillips 66 in the second quarter worth about $29,000. Finally, J.Safra Asset Management Corp bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $30,000. 76.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 100,507 shares of company stock valued at $21,770,810. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Barclays lifted their price target on Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Piper Sandler boosted their target price on shares of Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Raymond James Financial upped their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. One investment 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.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $206.56.

Phillips 66 Stock Performance

NYSE:PSX opened at $241.88 on Tuesday. The firm has a 50-day moving average price of $200.25 and a 200 day moving average price of $180.36. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $96.51 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95.

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

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

Phillips 66 Dividend Announcement

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

About Phillips 66

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.