RPG Investment Advisory LLC Boosts Stake in Phillips 66 (NYSE:PSX)

RPG Investment Advisory LLC lifted its position in Phillips 66 (NYSE:PSX) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,379 shares of the oil and gas company’s stock after purchasing an additional 437 shares during the quarter. RPG Investment Advisory LLC’s holdings in Phillips 66 were worth $9,230,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 in the 1st quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 during the 2nd quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the 4th quarter worth $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Phillips 66 during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Mizuho lowered their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Piper Sandler cut their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.85.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Shares of PSX opened at $127.95 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a 50-day simple moving average of $136.90 and a 200-day simple moving average of $144.73. The company has a market capitalization of $53.56 billion, a PE ratio of 9.84, a P/E/G ratio of 2.31 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the company posted $3.87 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.60%. Phillips 66’s dividend payout ratio is presently 35.38%.

About Phillips 66

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.