United Capital Financial Advisors LLC Purchases Shares of 35,317 Phillips 66 $PSX

United Capital Financial Advisors LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 35,317 shares of the oil and gas company’s stock, valued at approximately $5,970,000.

A number of other institutional investors have also modified their holdings of PSX. MUFG Securities EMEA plc lifted its holdings in Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after buying an additional 8,783 shares in the last quarter. Horizon Investments LLC grew its stake in shares of Phillips 66 by 478.4% during the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after acquiring an additional 52,348 shares in the last quarter. Truist Financial Corp grew its stake in shares of Phillips 66 by 1.6% during the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after acquiring an additional 10,585 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Phillips 66 by 543.7% during the first quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock worth $23,348,000 after acquiring an additional 108,248 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of Phillips 66 by 2.0% in the fourth quarter. National Pension Service now owns 614,059 shares of the oil and gas company’s stock worth $79,238,000 after acquiring an additional 11,960 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 100,507 shares of company stock worth $21,770,810. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $240.58 on Friday. The company has a market cap of $96.00 billion, a PE ratio of 13.71, a P/E/G ratio of 0.18 and a beta of 0.68. Phillips 66 has a fifty-two week low of $126.74 and a fifty-two week high of $246.95. The firm has a 50-day simple moving average of $204.55 and a 200 day simple moving average of $182.15. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the company posted $2.38 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 23.86 EPS for the current year.

Phillips 66 declared that its board has initiated a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PSX shares. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. BMO Capital Markets upped their target price on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group increased their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. TD Cowen raised their price target on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

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.