Beck Bode LLC Raises Position in Phillips 66 (NYSE:PSX)

Beck Bode LLC raised its stake in Phillips 66 (NYSE:PSX) by 104.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,416 shares of the oil and gas company’s stock after purchasing an additional 4,804 shares during the quarter. Beck Bode LLC’s holdings in Phillips 66 were worth $1,329,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Phillips 66 by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Boston Partners increased its position in shares of Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. raised its position in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $128.30 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The business has a 50 day moving average price of $135.53 and a 200 day moving average price of $143.96. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a market capitalization of $53.70 billion, a P/E ratio of 9.87, a PEG ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted 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 net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the business posted $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.59%. Phillips 66’s dividend payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PSX shares. Raymond James raised their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Morgan Stanley cut their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.29.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate 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.