KG&L Capital Management LLC Invests $287,000 in Phillips 66 (NYSE:PSX)

KG&L Capital Management LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,180 shares of the oil and gas company’s stock, valued at approximately $287,000.

Other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 during the 2nd quarter worth $17,670,000. M&G Plc bought a new stake in Phillips 66 in the second quarter worth $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 in the first quarter worth $3,596,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after purchasing an additional 15,542 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Phillips 66 in the first quarter worth $1,283,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $121.03 on Tuesday. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s 50-day moving average is $130.98 and its 200 day moving average is $137.30. The stock has a market capitalization of $49.98 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.80%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSX shares. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Raymond James boosted 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

About Phillips 66

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.