Silver Lake Advisory LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Silver Lake Advisory LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,981 shares of the oil and gas company’s stock, valued at approximately $280,000.

A number of other hedge funds have also modified their holdings of the company. Madison Park Capital Advisors LLC increased its stake in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares in the last quarter. MV Capital Management Inc. lifted its holdings in Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 73 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its stake in Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after acquiring an additional 74 shares during the period. Catalyst Financial Partners LLC increased its holdings in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares in the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Phillips 66 by 4.5% in the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after acquiring an additional 75 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.3 %

NYSE:PSX opened at $131.05 on Monday. The firm has a market capitalization of $55.56 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 5.22 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The stock’s 50 day moving average price is $134.30 and its two-hundred day moving average price is $142.94.

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, topping 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 firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the firm posted $3.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler cut their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Mizuho reduced their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.21.

About Phillips 66

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.