Phillips 66 $PSX Holdings Lifted by Mariner LLC

Mariner LLC grew its position in Phillips 66 (NYSE:PSX) by 9.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,179,388 shares of the oil and gas company’s stock after buying an additional 98,361 shares during the period. Mariner LLC’s holdings in Phillips 66 were worth $152,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Vanguard Group Inc. grew its position in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares during the last quarter. Norges Bank bought a new position in Phillips 66 in the 4th quarter worth about $640,206,000. M&T Bank Corp grew its position in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC grew its position in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Phillips 66 in the 2nd quarter worth about $107,967,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 45,629 shares of company stock valued at $8,071,540. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PSX shares. UBS Group upped their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Piper Sandler upped their target price on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Morgan Stanley upped their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday. TD Cowen upped their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.33.

Phillips 66 Stock Down 0.1%

PSX stock opened at $179.27 on Monday. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The firm has a market cap of $71.88 billion, a PE ratio of 17.66, a P/E/G ratio of 0.26 and a beta of 0.68. The firm has a 50 day simple moving average of $172.49 and a 200 day simple moving average of $157.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the business earned ($0.90) earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 17.95 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is currently 50.05%.

Phillips 66 Profile

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.