Phillips 66 $PSX Shares Purchased by Xponance Inc.

Xponance Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,424 shares of the oil and gas company’s stock after purchasing an additional 12,198 shares during the quarter. Xponance Inc.’s holdings in Phillips 66 were worth $9,987,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after acquiring an additional 73 shares in the last quarter. Heck Capital Advisors LLC boosted its stake in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after purchasing an additional 75 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of Phillips 66 by 3.8% during the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 75 shares during the period. Welch & Forbes LLC raised its stake in shares of Phillips 66 by 1.1% in the 3rd quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company’s stock worth $969,000 after buying an additional 76 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its stake in Phillips 66 by 2.5% during the third quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock valued at $430,000 after buying an additional 77 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 41,788 shares of company stock valued at $6,067,250. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 1.0%

Shares of Phillips 66 stock opened at $153.91 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $163.79. The company has a market cap of $61.68 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.53 and a beta of 0.90. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $144.05 and a 200 day moving average price of $137.15.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating and set a $158.00 target price on shares of Phillips 66 in a research note on Friday, February 20th. Scotiabank restated a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research report on Friday, January 16th. Barclays set a $158.00 price target on Phillips 66 in a report on Friday, February 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $170.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Hold” and an average price target of $160.11.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.