Phillips 66 $PSX Shares Purchased by Advisors Capital Management LLC

Advisors Capital Management LLC increased its position in Phillips 66 (NYSE:PSX) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,199 shares of the oil and gas company’s stock after buying an additional 2,766 shares during the period. Advisors Capital Management LLC’s holdings in Phillips 66 were worth $7,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Elliott Investment Management L.P. grew its stake in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Geode Capital Management LLC boosted its holdings in Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC acquired a new stake in Phillips 66 during the first quarter worth about $156,482,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. UBS Group reiterated a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research note on Monday. Piper Sandler raised their target price on shares of Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $144.25.

Phillips 66 Stock Performance

Phillips 66 stock opened at $142.27 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $143.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $57.33 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The firm’s fifty day moving average price is $133.96 and its 200 day moving average price is $125.90.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same period last year, the firm earned $2.04 earnings per share. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,786 shares of company stock worth $5,348,075 over the last 90 days. 0.22% of the stock is owned by company insiders.

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.