Stratos Investment Management LLC Purchases 1,974 Shares of Phillips 66 $PSX

Stratos Investment Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,657 shares of the oil and gas company’s stock after purchasing an additional 1,974 shares during the quarter. Stratos Investment Management LLC’s holdings in Phillips 66 were worth $3,777,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares during the period. GAMMA Investing LLC lifted its holdings in Phillips 66 by 15.2% during the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after acquiring an additional 1,268 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after acquiring an additional 26,825 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Phillips 66 in the first quarter worth about $290,000. Finally, Sagespring Wealth Partners LLC increased its holdings in shares of Phillips 66 by 61.4% in the first quarter. Sagespring Wealth Partners LLC now owns 4,132 shares of the oil and gas company’s stock worth $510,000 after acquiring an additional 1,572 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Scotiabank reiterated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Piper Sandler lifted their price target on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $140.75.

Insider Buying and Selling

In related news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 9,850 shares of company stock worth $1,188,910 in the last three months. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $128.37 on Friday. The firm’s 50 day moving average is $130.23 and its 200-day moving average is $120.78. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $51.88 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.