Phillips 66 $PSX Shares Bought by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC raised its position in Phillips 66 (NYSE:PSX) by 42.0% in the 2nd quarter, Holdings Channel reports. The fund owned 3,268 shares of the oil and gas company’s stock after acquiring an additional 966 shares during the period. Uhlmann Price Securities LLC’s holdings in Phillips 66 were worth $390,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PSX. Brighton Jones LLC lifted its stake 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 worth $1,166,000 after acquiring an additional 7,214 shares during the period. GAMMA Investing LLC lifted its stake in shares of Phillips 66 by 15.2% in the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after purchasing an additional 1,268 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 purchasing an additional 26,825 shares during the period. ORG Partners LLC lifted its stake in shares of Phillips 66 by 18.2% in the first quarter. ORG Partners LLC now owns 1,050 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 162 shares during the period. Finally, Advisor Resource Council acquired a new stake in shares of Phillips 66 in the first quarter valued at about $509,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Piper Sandler raised their price objective 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. TD Cowen raised their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Wells Fargo & Company assumed coverage on shares of Phillips 66 in a research note on Friday. They issued an “overweight” rating and a $154.00 price objective for the company. Finally, Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $129.21 on Monday. The company has a market cap of $52.22 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 1.79 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 has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a 50-day simple moving average of $130.43 and a 200-day simple moving average of $120.88.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate 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 posted $2.31 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 in the last ninety days. 0.22% of the stock is owned by company 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.