111 Capital Makes New $303,000 Investment in Phillips 66 $PSX

111 Capital bought a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,536 shares of the oil and gas company’s stock, valued at approximately $303,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the 1st quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 during the 1st quarter worth $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSX shares. Compass Point started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their price target on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Scotiabank reiterated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, UBS Group lifted their price target on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.19.

Phillips 66 Stock Down 0.0%

Shares of PSX opened at $132.97 on Tuesday. The firm has a market cap of $53.74 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.91 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company’s 50-day moving average price is $128.99 and its 200 day moving average price is $120.43. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the firm earned $2.31 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 in the last quarter. Corporate 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.