MGO One Seven LLC Purchases 316 Shares of Phillips 66 (NYSE:PSX)

MGO One Seven LLC boosted its position in Phillips 66 (NYSE:PSX) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,853 shares of the oil and gas company’s stock after acquiring an additional 316 shares during the period. MGO One Seven LLC’s holdings in Phillips 66 were worth $967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $3,596,000. Duality Advisers LP acquired a new position in shares of Phillips 66 in the 1st quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. 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 report on Wednesday, July 31st. Piper Sandler dropped their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, Barclays boosted their target price on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.92.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.8 %

NYSE:PSX opened at $126.70 on Friday. The company has a market cap of $53.03 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The business has a 50 day moving average price of $135.79 and a two-hundred day moving average price of $144.17. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the company posted $3.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, 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 was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.63%. Phillips 66’s payout ratio is presently 35.38%.

Phillips 66 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.