Phillips 66 $PSX Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Phillips 66 (NYSE:PSX) by 12.7% during the third quarter, Holdings Channel reports. The institutional investor owned 134,609 shares of the oil and gas company’s stock after buying an additional 15,209 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Phillips 66 were worth $18,117,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC lifted its stake in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 during the second quarter worth approximately $32,000. Webster Bank N. A. boosted its holdings in Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, Nova Wealth Management Inc. acquired a new position in Phillips 66 in the first quarter worth approximately $37,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 81,700 shares of company stock worth $11,318,236. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSX shares. UBS Group reissued a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research note on Monday, November 10th. TD Cowen upped their target price on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company increased their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.82.

Phillips 66 Trading Up 1.2%

Shares of NYSE PSX opened at $130.56 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a one year low of $91.01 and a one year high of $144.96. The business has a 50-day moving average price of $135.45 and a two-hundred day moving average price of $130.76. The firm has a market capitalization of $52.60 billion, a PE ratio of 35.67, a PEG ratio of 0.35 and a beta of 0.90.

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, topping analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period in the prior year, the firm earned $2.04 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Phillips 66 Profile

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.