NewSquare Capital LLC Buys 2,364 Shares of Phillips 66 $PSX

NewSquare Capital LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,111 shares of the oil and gas company’s stock after purchasing an additional 2,364 shares during the period. NewSquare Capital LLC’s holdings in Phillips 66 were worth $6,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after acquiring an additional 537,245 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Invesco Ltd. lifted its position in Phillips 66 by 15.9% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Phillips 66 by 11.1% in 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 buying an additional 377,132 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSX shares. Wells Fargo & Company upped their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho boosted their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday. TD Cowen boosted their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Barclays boosted their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $143.56.

Phillips 66 Stock Up 1.4%

Shares of NYSE PSX opened at $138.02 on Tuesday. The firm has a market cap of $55.61 billion, a PE ratio of 37.71, a P/E/G ratio of 1.81 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company’s fifty day simple moving average is $132.84 and its 200 day simple moving average is $123.92. 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 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period last year, the firm earned $2.04 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’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 transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade 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 at this link. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is owned by company insiders.

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.