Phillips 66 (NYSE:PSX) Stake Boosted by Catalina Capital Group LLC

Catalina Capital Group LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 47.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,790 shares of the oil and gas company’s stock after acquiring an additional 900 shares during the period. Catalina Capital Group LLC’s holdings in Phillips 66 were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSX. Lazard Asset Management LLC increased its holdings in Phillips 66 by 1,562.6% in the third quarter. Lazard Asset Management LLC now owns 3,774 shares of the oil and gas company’s stock worth $452,000 after buying an additional 3,547 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Phillips 66 by 145.6% during the 3rd quarter. Schroder Investment Management Group now owns 195,128 shares of the oil and gas company’s stock worth $23,445,000 after purchasing an additional 115,673 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Phillips 66 by 4.8% during the 3rd quarter. Townsquare Capital LLC now owns 32,678 shares of the oil and gas company’s stock worth $3,926,000 after purchasing an additional 1,494 shares during the last quarter. Essex Financial Services Inc. increased its stake in shares of Phillips 66 by 6.6% during the 3rd quarter. Essex Financial Services Inc. now owns 2,975 shares of the oil and gas company’s stock worth $357,000 after purchasing an additional 183 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Phillips 66 by 3.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,772 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays dropped their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target 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. Piper Sandler dropped their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Mizuho dropped their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Scotiabank raised their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.64.

Phillips 66 Stock Performance

Phillips 66 stock traded up $1.16 during mid-day trading on Wednesday, reaching $133.97. The company had a trading volume of 2,052,291 shares, compared to its average volume of 2,744,899. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $98.65 and a 52 week high of $174.08. The company has a 50 day moving average of $140.76 and a 200-day moving average of $145.12. The firm has a market cap of $56.80 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the firm earned $4.21 EPS. On average, sell-side analysts expect that Phillips 66 will post 10.62 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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.