311,700 Shares in Phillips 66 (NYSE:PSX) Bought by SIR Capital Management L.P.

SIR Capital Management L.P. purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 311,700 shares of the oil and gas company’s stock, valued at approximately $44,003,000. Phillips 66 makes up 4.4% of SIR Capital Management L.P.’s investment portfolio, making the stock its 2nd biggest holding.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 during the 2nd quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter worth $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth about $28,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. Barclays boosted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Scotiabank decreased their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Wells Fargo & Company boosted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $157.85.

Phillips 66 Stock Down 0.1 %

NYSE:PSX opened at $127.95 on Tuesday. 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 cap of $53.56 billion, a P/E ratio of 9.84, a P/E/G ratio of 2.31 and a beta of 1.33. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm has a 50-day simple moving average of $136.90 and a two-hundred day simple moving average of $144.73.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.