Denali Advisors LLC Buys Shares of 4,118 Phillips 66 $PSX

Denali Advisors LLC bought a new stake in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,118 shares of the oil and gas company’s stock, valued at approximately $560,000.

Several other large investors have also made changes to their positions in the company. Evolution Wealth Management Inc. bought a new stake in Phillips 66 during the second quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Phillips 66 during the 2nd quarter worth $32,000. Winnow Wealth LLC bought a new stake in shares of Phillips 66 during the 3rd quarter worth $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Phillips 66 in the second quarter valued at about $38,000. Finally, Operose Advisors LLC boosted its stake in Phillips 66 by 260.4% in the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,288 shares of company stock valued at $4,867,250 in the last three months. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $159.75 on Tuesday. The stock has a market cap of $64.37 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.56 and a beta of 0.90. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The company’s fifty day moving average is $140.81 and its 200 day moving average is $135.18. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same period in the previous year, the business earned ($0.15) EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $1.27 dividend. The ex-dividend date is Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a yield of 3.2%. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PSX shares. Citigroup increased their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Jefferies Financial Group increased their price objective on shares of Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Thursday, January 22nd. Finally, Mizuho increased their price target on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.72.

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.