Jaffetilchin Investment Partners LLC Raises Position in Phillips 66 (NYSE:PSX)

Jaffetilchin Investment Partners LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,631 shares of the oil and gas company’s stock after buying an additional 144 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Phillips 66 were worth $795,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at $1,910,000. Choreo LLC raised its position in shares of Phillips 66 by 12.5% in the fourth quarter. Choreo LLC now owns 5,836 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 648 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Phillips 66 by 2.5% in the fourth quarter. Van ECK Associates Corp now owns 28,570 shares of the oil and gas company’s stock valued at $3,804,000 after buying an additional 689 shares during the last quarter. Norden Group LLC lifted its stake in shares of Phillips 66 by 16.2% in the fourth quarter. Norden Group LLC now owns 2,161 shares of the oil and gas company’s stock worth $288,000 after buying an additional 301 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $232,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.8 %

Shares of NYSE PSX opened at $140.31 on Friday. The stock has a fifty day simple moving average of $137.85 and a 200-day simple moving average of $145.24. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.73 billion, a PE ratio of 10.79, a PEG ratio of 2.53 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.87 EPS. On average, equities analysts forecast that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. TD Cowen increased their price target on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays raised their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by company insiders.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.