Hamilton Capital LLC Buys Shares of 3,409 Phillips 66 $PSX

Hamilton Capital LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,409 shares of the oil and gas company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Old North State Trust LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $1,089,000. Caitlin John LLC purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $216,000. Ruggaard & Associates LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $381,000. Equitable Holdings Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $3,546,000. Finally, Centaurus Financial Inc. purchased a new stake in Phillips 66 in the 2nd quarter valued at approximately $290,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.7%

Shares of NYSE PSX opened at $240.58 on Friday. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95. The firm’s 50 day moving average price is $204.55 and its 200 day moving average price is $182.15. The firm has a market cap of $96.00 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.38 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 announced that its board has initiated a stock buyback program on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued 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 2.1%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. The trade was 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 worth $21,770,810 in the last three months. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. Argus boosted their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price objective on Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently 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.