Quinn Opportunity Partners LLC Purchases New Holdings in Phillips 66 $PSX

Quinn Opportunity Partners LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the oil and gas company’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthTrust Axiom LLC lifted its holdings in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after buying an additional 81 shares during the period. Wolff Wiese Magana LLC raised its position 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 buying an additional 82 shares during the last quarter. Magnus Financial Group LLC lifted its position in Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares during the period. Biltmore Wealth Management LLC boosted its stake in shares of Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after buying an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its stake in shares of Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.1%

PSX stock opened at $137.93 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $133.59 and its 200 day moving average price is $125.55. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.93. The company has a market cap of $55.57 billion, a P/E ratio of 37.68, a P/E/G ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same period last year, the firm earned $2.04 EPS. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s payout ratio is currently 131.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PSX. Mizuho lifted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. TD Cowen raised their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Barclays increased their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Finally, Wells Fargo & Company lifted their target price on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.56.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 38,786 shares of company stock worth $5,348,075. 0.22% of the stock is 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.