Claro Advisors LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Claro Advisors LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 11.1% in the second quarter, Holdings Channel.com reports. The fund owned 1,931 shares of the oil and gas company’s stock after purchasing an additional 193 shares during the period. Claro Advisors LLC’s holdings in Phillips 66 were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Wellington Management Group LLP grew its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners lifted its stake in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Finally, Norges Bank purchased a new position in Phillips 66 during the 4th quarter valued at about $559,435,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Mizuho decreased their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

Phillips 66 Trading Up 2.8 %

PSX opened at $140.31 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a market cap of $59.48 billion, a P/E ratio of 10.79, a PEG ratio of 2.53 and a beta of 1.34. The business’s 50-day simple moving average is $137.89 and its 200-day simple moving average is $145.20.

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

Phillips 66 Dividend Announcement

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

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’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 Securities & Exchange Commission, 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.