Donoghue Forlines LLC Has $1.45 Million Stake in Phillips 66 $PSX

Donoghue Forlines LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,179 shares of the oil and gas company’s stock after purchasing an additional 443 shares during the quarter. Donoghue Forlines LLC’s holdings in Phillips 66 were worth $1,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake 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 valued at $26,000 after buying an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of Phillips 66 during the first quarter worth $29,000. Webster Bank N. A. lifted its position in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Nova Wealth Management Inc. bought a new stake in Phillips 66 in the 1st quarter valued at $37,000. Finally, GKV Capital Management Co. Inc. boosted its stake in Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 174 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 1.1%

Shares of Phillips 66 stock opened at $139.53 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.93. The stock has a market cap of $56.22 billion, a P/E ratio of 38.12, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $133.75 and its 200-day moving average is $125.65.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period last year, the business earned $2.04 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research note on Monday. Mizuho increased their price objective on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Piper Sandler lifted their target price on Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $143.56.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,786 shares of company stock worth $5,348,075 over the last 90 days. 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.