11,000 Shares in Phillips 66 $PSX Bought by Encore Global Management LP

Encore Global Management LP acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the oil and gas company’s stock, valued at approximately $2,004,000.

Several other hedge funds also recently added to or reduced their stakes in PSX. Amundi grew its stake in Phillips 66 by 62.0% in the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after purchasing an additional 1,403,493 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Phillips 66 by 31.9% during the first quarter. EverSource Wealth Advisors LLC now owns 12,446 shares of the oil and gas company’s stock valued at $2,268,000 after buying an additional 3,007 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $55,510,000. Energy Income Partners LLC lifted its holdings in Phillips 66 by 443.7% during the 1st quarter. Energy Income Partners LLC now owns 73,405 shares of the oil and gas company’s stock worth $13,373,000 after buying an additional 59,904 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its position in shares of Phillips 66 by 10.1% in the 1st quarter. KCM Investment Advisors LLC now owns 5,063 shares of the oil and gas company’s stock worth $922,000 after acquiring an additional 463 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,107 shares of company stock valued at $8,057,584 in the last quarter. Company insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.9%

NYSE:PSX opened at $206.03 on Wednesday. The firm has a market capitalization of $82.60 billion, a P/E ratio of 20.30, a P/E/G ratio of 0.17 and a beta of 0.69. The business has a 50 day simple moving average of $183.56 and a 200 day simple moving average of $169.46. 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 has a 12-month low of $118.07 and a 12-month high of $216.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned ($0.90) earnings per share. Equities research analysts predict that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s dividend payout ratio is currently 50.05%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSX shares. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. The Goldman Sachs Group raised their price objective on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Raymond James Financial boosted their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. BMO Capital Markets increased their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.72.

Phillips 66 Company 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.