Aquatic Capital Management LLC Invests $10.06 Million in Phillips 66 $PSX

Aquatic Capital Management LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 73,971 shares of the oil and gas company’s stock, valued at approximately $10,062,000.

Several other large investors have also added to or reduced their stakes in the business. Evolution Wealth Management Inc. bought a new position in Phillips 66 in the second quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 during the 2nd quarter worth about $32,000. Winnow Wealth LLC bought a new stake in Phillips 66 during the 3rd quarter worth about $36,000. Wealth Watch Advisors INC acquired a new position in shares of Phillips 66 during the 3rd quarter worth about $36,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,380,590.72. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 38,088 shares of company stock worth $6,147,655. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $158.00 target price on shares of Phillips 66 in a research report on Friday, February 20th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Barclays set a $158.00 price target on Phillips 66 in a research note on Friday, February 20th. The Goldman Sachs Group upped their price objective on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wolfe Research increased their price objective on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Hold” and a consensus target price of $161.33.

Phillips 66 Trading Down 0.7%

Phillips 66 stock opened at $172.85 on Monday. The stock has a 50-day simple moving average of $151.43 and a 200 day simple moving average of $140.17. The stock has a market capitalization of $69.27 billion, a P/E ratio of 15.98, a PEG ratio of 0.60 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $178.38.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Phillips 66 Profile

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.