Concurrent Investment Advisors LLC lifted its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 23.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 79,658 shares of the oil and gas company’s stock after purchasing an additional 15,169 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Phillips 66 were worth $13,466,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. NFSG Corp raised its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $27,000. SWAN Capital LLC increased its holdings in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Compass Financial Management LLC acquired a new position in shares of Phillips 66 in the second quarter valued at about $28,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Phillips 66 in the second quarter worth about $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Phillips 66
In other Phillips 66 news, EVP Richard Harbison sold 52,100 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Sutherland sold 3,523 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on Phillips 66
Phillips 66 Price Performance
Phillips 66 stock opened at $255.13 on Friday. The stock has a market capitalization of $101.80 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.19 and a beta of 0.71. The company’s fifty day moving average price is $214.38 and its 200 day moving average price is $185.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $260.68.
Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period last year, the firm posted $2.38 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current fiscal year.
Phillips 66 announced that its board has initiated a share buyback program on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Phillips 66 Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.
About Phillips 66
Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.
The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.
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