Strategic Investment Solutions Inc. IL Takes $51,000 Position in Phillips 66 (NYSE:PSX)

Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 349 shares of the oil and gas company’s stock, valued at approximately $51,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Scotiabank reduced their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Barclays increased their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $152.71.

Phillips 66 Stock Up 1.1 %

PSX stock opened at $134.45 on Thursday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $133.97 and a 200-day simple moving average of $142.54. The stock has a market capitalization of $56.28 billion, a P/E ratio of 10.34, a P/E/G ratio of 5.28 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.87 EPS. Equities analysts forecast that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.42%. Phillips 66’s payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

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.