Headlands Technologies LLC Has $594,000 Stock Holdings in Phillips 66 $PSX

Headlands Technologies LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 158.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,513 shares of the oil and gas company’s stock after purchasing an additional 2,155 shares during the period. Headlands Technologies LLC’s holdings in Phillips 66 were worth $594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Woodline Partners LP raised its stake in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. raised its stake in Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the last quarter. Finally, Glenview Trust co lifted its holdings in Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $256.02 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The stock’s fifty day moving average price is $211.06 and its two-hundred day moving average price is $184.73. Phillips 66 has a one year low of $126.74 and a one year high of $258.48. The firm has a market cap of $102.16 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.19 and a beta of 0.71.

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

Phillips 66 declared that its Board of Directors has approved a share buyback program on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $1.27 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.0%. Phillips 66’s payout ratio is 28.95%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. The trade was a 32.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the 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 transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Argus upped their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. UBS Group lifted their target price on shares of Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $239.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

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.