TradeLink Capital LLC Buys New Position in Phillips 66 (NYSE:PSX)

TradeLink Capital LLC purchased a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,500 shares of the oil and gas company’s stock, valued at approximately $494,000. Phillips 66 accounts for about 1.5% of TradeLink Capital LLC’s portfolio, making the stock its 23rd biggest position.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 in the first quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the second quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 during the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $28,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Barclays raised their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.92.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Up 0.6 %

Shares of NYSE:PSX opened at $125.72 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a market cap of $52.62 billion, a P/E ratio of 9.67, a PEG ratio of 4.50 and a beta of 1.33. The stock’s fifty day moving average price is $136.03 and its 200-day moving average price is $144.32.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.87 EPS. Sell-side analysts expect that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.66%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.