Phillips 66 (NYSE:PSX) Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,394 shares of the oil and gas company’s stock after buying an additional 1,233 shares during the period. Aptus Capital Advisors LLC’s holdings in Phillips 66 were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP boosted 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 worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. Boston Partners raised its stake in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Finally, Norges Bank purchased a new position in Phillips 66 in the 4th quarter valued at $559,435,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

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

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping 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 company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the prior year, the firm earned $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Announces Dividend

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

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Scotiabank cut their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Raymond James lifted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.38.

Phillips 66 Company Profile

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.