Catalyst Capital Advisors LLC Raises Stock Position in Phillips 66 $PSX

Catalyst Capital Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 72.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 907 shares of the oil and gas company’s stock after acquiring an additional 380 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Phillips 66 were worth $108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in Phillips 66 in the first quarter valued at $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Phillips 66 in the first quarter valued at $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in Phillips 66 in the first quarter valued at $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $135.07 on Friday. The firm has a market capitalization of $54.58 billion, a PE ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The firm’s 50-day moving average price is $131.51 and its 200 day moving average price is $122.00. 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 posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $2.31 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66’s payout ratio is presently 115.38%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Jefferies Financial Group lifted their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Wells Fargo & Company initiated coverage on shares of Phillips 66 in a report on Friday, October 17th. They issued an “overweight” rating and a $154.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and issued a $150.00 target price (up previously from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Finally, UBS Group lifted their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

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.