Agman Capital LLC Makes New Investment in Phillips 66 $PSX

Agman Capital LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, HoldingsChannel reports. The fund purchased 23,402 shares of the oil and gas company’s stock, valued at approximately $3,020,000. Phillips 66 comprises 2.6% of Agman Capital LLC’s portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter worth about $26,000. Accordant Advisory Group Inc raised its stake in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $27,000. Finally, Stephens Consulting LLC raised its stake in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. The trade was a 23.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 45,629 shares of company stock worth $8,071,540. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Morgan Stanley lifted their price objective on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup lifted their price target on Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, TD Cowen lifted their price target on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Price Performance

NYSE:PSX opened at $179.27 on Friday. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The stock has a 50 day moving average of $172.49 and a two-hundred day moving average of $157.75. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market cap of $71.87 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the business earned ($0.90) EPS. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 17.95 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, June 1st. Stockholders of record on Monday, May 18th were issued 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 was Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

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.