Phillips 66 $PSX Shares Newly Acquired by One Way Holdings LLC

One Way Holdings LLC bought a new stake in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,472 shares of the oil and gas company’s stock, valued at approximately $5,993,000.

Several other hedge funds also recently modified their holdings of PSX. BlackRock Inc. purchased a new stake in Phillips 66 in the 2nd quarter valued at about $5,766,779,000. State Street Corp lifted its holdings in shares of Phillips 66 by 1.1% during the 2nd quarter. State Street Corp now owns 26,044,694 shares of the oil and gas company’s stock worth $4,402,856,000 after acquiring an additional 271,841 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Phillips 66 in the second quarter worth approximately $1,093,206,000. Amundi boosted its position in shares of Phillips 66 by 62.0% in the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after acquiring an additional 1,403,493 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Phillips 66 by 1.2% in the first quarter. Bank of America Corp DE now owns 2,971,036 shares of the oil and gas company’s stock valued at $541,263,000 after purchasing an additional 35,167 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. Citigroup increased their price objective on shares of Phillips 66 from $217.00 to $297.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. The Goldman Sachs Group raised their target price on shares of Phillips 66 from $245.00 to $274.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $260.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, September 17th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.47.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $283.18 on Monday. The stock’s 50 day moving average price is $266.19 and its 200 day moving average price is $198.51. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.15 and a beta of 0.69. Phillips 66 has a 12 month low of $127.16 and a 12 month high of $299.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.34 and a quick ratio of 1.04.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share for the quarter, topping the consensus estimate of $11.73 by $2.35. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $44.91 billion. Phillips 66 had a net margin of 7.27% and a return on equity of 33.12%. During the same period in the previous year, the company posted $2.52 EPS. Equities research analysts anticipate that Phillips 66 will post 33.11 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a dividend of $1.33 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $5.32 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. Phillips 66’s payout ratio is 16.22%.

Phillips 66 declared that its Board of Directors has approved a share buyback program on Friday, July 31st that authorizes the company to buy back $10 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard Harbison sold 52,100 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,800 shares of company stock worth $25,016,566 over the last quarter. 0.40% of the stock is owned by company insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.