Phillips 66 (NYSE:PSX) Stock Position Lifted by Banco Santander S.A.

Banco Santander S.A. lifted its position in Phillips 66 (NYSE:PSX) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,477 shares of the oil and gas company’s stock after acquiring an additional 739 shares during the quarter. Banco Santander S.A.’s holdings in Phillips 66 were worth $914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth about $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

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 shares were 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSX. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Barclays raised 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 note on Monday, August 5th. Piper Sandler reduced their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Mizuho cut their target price on 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, TD Cowen increased their price target on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $157.38.

Phillips 66 Stock Performance

PSX stock traded up $3.35 during mid-day trading on Friday, reaching $139.85. 602,241 shares of the stock traded hands, compared to its average volume of 2,608,174. 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 business has a 50-day moving average of $137.84 and a two-hundred day moving average of $145.33. The firm has a market capitalization of $59.29 billion, a PE ratio of 10.50, a P/E/G ratio of 2.43 and a beta of 1.34. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results 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 firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.87 EPS. As a group, equities analysts predict that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company 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 $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.29%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.