Phillips 66 $PSX Shares Bought by Two Sigma Securities LLC

Two Sigma Securities LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 298.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,059 shares of the oil and gas company’s stock after acquiring an additional 6,035 shares during the period. Two Sigma Securities LLC’s holdings in Phillips 66 were worth $1,362,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Phillips 66 during the 2nd quarter worth $5,766,779,000. State Street Corp boosted its holdings in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after acquiring an additional 175,616 shares during the last quarter. Geode Capital Management LLC grew its position in Phillips 66 by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the period. Bank of New York Mellon Corp purchased a new stake in Phillips 66 during the second quarter valued at about $1,093,206,000. Finally, Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth about $640,206,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.2%

Shares of NYSE:PSX opened at $246.86 on Tuesday. The firm has a market cap of $98.50 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a fifty day simple moving average of $207.69 and a 200 day simple moving average of $183.39. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $250.66.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the prior year, the firm posted $2.38 EPS. On average, equities research analysts anticipate that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 declared that its board has approved a share repurchase program on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 100,507 shares of company stock valued at $21,770,810 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. UBS Group lifted their price target on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

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.