Intech Investment Management LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Intech Investment Management LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 40.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 146,221 shares of the oil and gas company’s stock after buying an additional 42,457 shares during the period. Intech Investment Management LLC’s holdings in Phillips 66 were worth $20,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $28,000. Ruedi Wealth Management Inc. lifted its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. 76.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of 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 Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $132.56 on Friday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The stock’s fifty day moving average is $135.37 and its 200 day moving average is $143.79. The stock has a market cap of $55.49 billion, a P/E ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. 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 (NYSE:PSX) last announced its 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 last year, the firm earned $3.87 EPS. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid 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 3.47%. Phillips 66’s payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays increased their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $155.29.

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.