Marathon Strategic Advisors LLC Makes New Investment in Phillips 66 $PSX

Marathon Strategic Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,059 shares of the oil and gas company’s stock, valued at approximately $552,000.

A number of other institutional investors have also made changes to their positions in the business. Elliott Investment Management L.P. boosted its stake in 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 purchasing an additional 14,950,000 shares during the period. Vanguard Group Inc. increased its position in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after buying an additional 5,978,841 shares during the period. Norges Bank acquired a new position in shares of Phillips 66 during the second quarter worth approximately $523,755,000. Geode Capital Management LLC lifted its holdings in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after buying an additional 1,532,967 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Phillips 66 by 9,530.9% in 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. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.1%

Shares of Phillips 66 stock opened at $128.95 on Friday. The firm has a market capitalization of $51.96 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 0.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The company’s fifty day moving average price is $135.84 and its two-hundred day moving average price is $129.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $144.96.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. 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 EPS. On average, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. TD Cowen raised their price target on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Mizuho boosted their price objective on shares of Phillips 66 from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Finally, Piper Sandler increased their target price on shares of Phillips 66 from $170.00 to $171.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Hold” and a consensus target price of $148.35.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the 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 completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Company 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.