Denali Advisors LLC Makes New $560,000 Investment in Phillips 66 $PSX

Denali Advisors LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,118 shares of the oil and gas company’s stock, valued at approximately $560,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Norges Bank bought a new stake in Phillips 66 in the second quarter valued at $523,755,000. Elliott Investment Management L.P. raised its holdings in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares in the last quarter. Finally, Soundwatch Capital LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $170,604,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Argus upped their price target on Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Morgan Stanley increased their target price on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Thursday, January 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $172.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.72.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $159.75 on Tuesday. The stock has a fifty day simple moving average of $140.81 and a two-hundred day simple moving average of $135.18. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $163.79. The firm has a market cap of $64.37 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. 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 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same period in the prior year, the firm earned ($0.15) earnings per share. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be given a dividend of $1.27 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,288 shares of company stock worth $4,867,250 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.