Stevens Capital Management LP Takes $1.20 Million Position in Phillips 66 $PSX

Stevens Capital Management LP purchased a new position in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,833 shares of the oil and gas company’s stock, valued at approximately $1,201,000.

Other large investors have also bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new stake in Phillips 66 in the second quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $32,000. Winnow Wealth LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter worth about $36,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 2nd quarter worth about $38,000. Finally, Operose Advisors LLC lifted its position in Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 250 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s 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 of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,788 shares of company stock worth $6,067,250 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. Barclays set a $158.00 target price on shares of Phillips 66 in a research note on Friday. Citigroup raised their price objective on Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Morgan Stanley boosted their target price on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Hold” and a consensus target price of $160.11.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $155.72 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79. The firm has a market capitalization of $62.74 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $141.98 and a 200 day moving average of $135.98.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the prior year, the business posted ($0.15) earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a dividend of $1.27 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. Phillips 66’s payout ratio is currently 44.36%.

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.