Optas LLC Makes New Investment in Phillips 66 $PSX

Optas LLC bought a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,888 shares of the oil and gas company’s stock, valued at approximately $225,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the first quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Phillips 66 in the first quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Piper Sandler upped their price target on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Jefferies Financial Group upped their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday. Raymond James Financial upped their price target on Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Finally, UBS Group upped their price target on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $127.01 on Friday. The company’s fifty day moving average is $129.51 and its two-hundred day moving average is $120.63. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a market cap of $51.33 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the business posted $2.31 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.8%. Phillips 66’s dividend payout ratio is 115.38%.

About Phillips 66

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.