Tripletail Wealth Management LLC Takes $434,000 Position in Phillips 66 $PSX

Tripletail Wealth Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the second quarter, HoldingsChannel.com reports. The firm purchased 3,662 shares of the oil and gas company’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Brighton Jones LLC grew its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Phillips 66 during the 1st quarter valued at about $237,000. Townsquare Capital LLC increased its holdings in shares of Phillips 66 by 7.6% in the first quarter. Townsquare Capital LLC now owns 28,481 shares of the oil and gas company’s stock worth $3,517,000 after purchasing an additional 2,007 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Phillips 66 in the first quarter valued at approximately $509,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Phillips 66 by 16.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,560 shares of the oil and gas company’s stock worth $563,000 after purchasing an additional 645 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,093 shares of company stock worth $11,933,256 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $138.85 on Tuesday. The stock has a market cap of $55.94 billion, a PE ratio of 37.94, a P/E/G ratio of 0.73 and a beta of 0.92. The company has a 50-day moving average price of $135.07 and a 200 day moving average price of $128.66. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25. 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 issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the prior year, the firm earned $2.04 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. TD Cowen lifted their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Jefferies Financial Group upped their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, Wolfe Research boosted their target price on Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $147.88.

About Phillips 66

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.