Mangrove Partners IM LLC Purchases Shares of 7,119 Phillips 66 $PSX

Mangrove Partners IM LLC bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,119 shares of the oil and gas company’s stock, valued at approximately $919,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc boosted its stake in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. SWAN Capital LLC lifted its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Stephens Consulting LLC lifted its stake in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PSX shares. Morgan Stanley upped their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler upped their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Jefferies Financial Group increased their price target on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. BMO Capital Markets increased their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, UBS Group reiterated a “buy” rating and issued a $212.00 price target on shares of Phillips 66 in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.33.

Phillips 66 Stock Performance

NYSE PSX opened at $172.07 on Wednesday. The company has a market capitalization of $68.99 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.25 and a beta of 0.68. Phillips 66 has a twelve month low of $118.00 and a twelve month high of $190.61. The stock has a fifty day simple moving average of $172.34 and a 200 day simple moving average of $158.45. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the business posted ($0.90) EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 18.25 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 45,629 shares of company stock valued at $8,071,540. Company insiders own 0.40% of the company’s stock.

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.