Oak Hill Wealth Advisors LLC Raises Stock Position in Phillips 66 $PSX

Oak Hill Wealth Advisors LLC increased its stake in Phillips 66 (NYSE:PSX) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,405 shares of the oil and gas company’s stock after acquiring an additional 493 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Phillips 66 were worth $1,093,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Elliott Investment Management L.P. boosted its position in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Invesco Ltd. boosted its position in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after acquiring an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after acquiring an additional 100,321 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $133.14 on Friday. The firm has a market capitalization of $53.80 billion, a P/E ratio of 32.00, a PEG ratio of 1.95 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company’s fifty day moving average is $128.89 and its two-hundred day moving average is $120.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the firm earned $2.31 EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is 115.38%.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their target price for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday. TD Cowen raised their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.19.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.