MQS Management LLC Purchases Shares of 4,198 Phillips 66 $PSX

MQS Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,198 shares of the oil and gas company’s stock, valued at approximately $501,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its stake in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 in the 1st quarter worth $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth $29,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 in the 1st quarter worth $29,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSX shares. Barclays upped their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Scotiabank reiterated a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Mizuho upped their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. TD Cowen boosted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 9,850 shares of company stock valued at $1,188,910 in the last three months. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $135.07 on Friday. The company’s 50-day moving average is $131.51 and its 200 day moving average is $122.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $54.58 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35.

Phillips 66 (NYSE:PSX) last issued 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. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate 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. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 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.