AXQ Capital LP Takes Position in Phillips 66 $PSX

AXQ Capital LP purchased a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,210 shares of the oil and gas company’s stock, valued at approximately $1,834,000.

A number of other large investors have also made changes to their positions in the stock. CYBER HORNET ETFs LLC increased its holdings in shares of Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 66 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 72 shares in the last quarter. L2 Asset Management LLC increased its holdings in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Phillips 66 by 0.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after purchasing an additional 73 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its holdings in shares of Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $180.06 on Tuesday. Phillips 66 has a 12-month low of $111.19 and a 12-month high of $190.61. The stock has a market capitalization of $72.19 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.26 and a beta of 0.68. The firm’s 50-day moving average is $172.41 and its two-hundred day moving average is $155.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period last year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 114,029 shares of company stock valued at $19,641,455 over the last quarter. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Argus increased their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Phillips 66 in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

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.