Summit Trail Advisors LLC Acquires 3,886 Shares of Phillips 66 (NYSE:PSX)

Summit Trail Advisors LLC raised its holdings in Phillips 66 (NYSE:PSX) by 91.3% during the second quarter, Holdings Channel.com reports. The fund owned 8,140 shares of the oil and gas company’s stock after purchasing an additional 3,886 shares during the period. Summit Trail Advisors LLC’s holdings in Phillips 66 were worth $1,149,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of Phillips 66 by 0.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,771 shares of the oil and gas company’s stock worth $3,779,000 after purchasing an additional 197 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Phillips 66 by 4.8% during the second quarter. Pacer Advisors Inc. now owns 34,272 shares of the oil and gas company’s stock worth $4,838,000 after buying an additional 1,573 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Phillips 66 by 147.4% during the 2nd quarter. AE Wealth Management LLC now owns 21,218 shares of the oil and gas company’s stock worth $2,995,000 after buying an additional 12,642 shares during the period. Bridges Investment Management Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $518,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after acquiring an additional 377,314 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $129.97 on Friday. The business’s 50-day simple moving average is $135.20 and its 200 day simple moving average is $143.67. Phillips 66 has a 52-week low of $107.85 and a 52-week 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 has a market capitalization of $55.10 billion, a PE ratio of 10.00, a PEG ratio of 4.67 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.87 EPS. As a group, sell-side analysts expect that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 3.54%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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 upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by 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.