52,543 Shares in Phillips 66 $PSX Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 52,543 shares of the oil and gas company’s stock, valued at approximately $8,882,000.

A number of other hedge funds have also recently bought and sold shares of PSX. Proficio Capital Partners LLC bought a new position in Phillips 66 during the 2nd quarter worth approximately $384,000. MUFG Securities EMEA plc boosted its stake 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 purchasing an additional 8,783 shares during the period. Fifth Third Bancorp raised its position in Phillips 66 by 543.7% in the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after buying an additional 108,248 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $5,766,779,000. Finally, National Pension Service increased its stake in Phillips 66 by 2.0% in the 4th quarter. National Pension Service now owns 614,059 shares of the oil and gas company’s stock valued at $79,238,000 after buying an additional 11,960 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.8%

PSX stock opened at $261.14 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 has a market capitalization of $104.20 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.19 and a beta of 0.71. The business’s fifty day moving average price is $219.55 and its two-hundred day moving average price is $188.21. Phillips 66 has a fifty-two week low of $126.74 and a fifty-two week high of $263.66.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating 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 net margin of 4.54% and a return on equity of 19.93%. During the same period in the previous year, the business earned $2.38 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 24.07 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has initiated a share repurchase program on Friday, July 31st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock valued at $21,770,810 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Finally, Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.76.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.