KG&L Capital Management LLC Buys Shares of 2,180 Phillips 66 (NYSE:PSX)

KG&L Capital Management LLC acquired a new position in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,180 shares of the oil and gas company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. Harbour Investment Management LLC grew its stake in Phillips 66 by 1.8% during the third quarter. Harbour Investment Management LLC now owns 14,592 shares of the oil and gas company’s stock valued at $1,918,000 after acquiring an additional 265 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Whitener Capital Management Inc. increased its stake in Phillips 66 by 5.9% in the 3rd quarter. Whitener Capital Management Inc. now owns 5,419 shares of the oil and gas company’s stock worth $712,000 after buying an additional 300 shares during the period. Pure Financial Advisors LLC increased its stake in Phillips 66 by 18.3% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,805 shares of the oil and gas company’s stock worth $237,000 after buying an additional 279 shares during the period. Finally, Argonautica Private Wealth Management Inc. increased its position in Phillips 66 by 0.7% during the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 19,969 shares of the oil and gas company’s stock valued at $2,625,000 after purchasing an additional 129 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PSX. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.38.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $121.03 on Tuesday. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The firm has a market cap of $49.98 billion, a PE ratio of 15.54, a PEG ratio of 3.90 and a beta of 1.33. The firm has a fifty day moving average of $130.98 and a 200 day moving average of $137.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.63 earnings per share. As a group, research analysts predict that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.80%. Phillips 66’s payout ratio is 59.05%.

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.