Versor Investments LP Boosts Position in Phillips 66 (NYSE:PSX)

Versor Investments LP lifted its stake in shares of Phillips 66 (NYSE:PSX) by 34.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,138 shares of the oil and gas company’s stock after acquiring an additional 2,351 shares during the period. Versor Investments LP’s holdings in Phillips 66 were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 in the 1st quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Finally, First United Bank & Trust purchased a new stake in Phillips 66 in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. TD Cowen boosted their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Scotiabank cut their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Piper Sandler cut 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. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, Barclays boosted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Phillips 66 Stock Up 2.8 %

PSX traded up $3.81 on Monday, reaching $140.31. The company’s stock had a trading volume of 3,981,500 shares, compared to its average volume of 2,628,288. The stock has a 50 day moving average of $137.85 and a two-hundred day moving average of $145.24. 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 company has a market capitalization of $59.48 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 2.53 and a beta of 1.34. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the previous year, the business earned $3.87 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts forecast that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

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.