Stolper Co Buys 761 Shares of Phillips 66 (NYSE:PSX)

Stolper Co increased its stake in Phillips 66 (NYSE:PSX) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,584 shares of the oil and gas company’s stock after purchasing an additional 761 shares during the quarter. Phillips 66 makes up approximately 2.3% of Stolper Co’s portfolio, making the stock its 16th biggest holding. Stolper Co’s holdings in Phillips 66 were worth $6,435,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in Phillips 66 during the second quarter worth about $17,670,000. M&G Plc purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 during the 1st quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Phillips 66 by 42.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after acquiring an additional 39,775 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.8 %

PSX stock opened at $126.70 on Friday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a market capitalization of $53.03 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33. The company’s 50 day moving average price is $135.79 and its two-hundred day moving average price is $144.17. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the business posted $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler cut their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company increased their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Argus restated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.92.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.