10,428 Shares in Phillips 66 $PSX Purchased by Bull Harbor Capital LLC

Bull Harbor Capital LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 10,428 shares of the oil and gas company’s stock, valued at approximately $1,900,000.

A number of other large investors have also added to or reduced their stakes in PSX. Accordant Advisory Group Inc boosted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 during the fourth quarter valued at $27,000. NFSG Corp lifted its position in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. SWAN Capital LLC lifted its position 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 valued at $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Sfam LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth $34,000. Institutional investors own 76.93% of the company’s stock.

Key Headlines Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSX shares. Citigroup boosted their target price on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Argus boosted their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Scotiabank upped their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $208.00 price objective on shares of Phillips 66 in a research note on Thursday, July 23rd. Finally, Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 Trading Up 0.5%

Shares of PSX opened at $206.97 on Thursday. The company’s fifty day simple moving average is $184.11 and its 200-day simple moving average is $169.90. The company has a market cap of $82.98 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.16 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.90) EPS. As a group, analysts expect that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 50.05%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $2,094,320.63. Following the completion of the sale, 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 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 a total of 45,107 shares of company stock valued at $8,057,584 over the last 90 days. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.