Osaic Holdings Inc. Buys 8,195 Shares of Phillips 66 $PSX

Osaic Holdings Inc. grew its stake in Phillips 66 (NYSE:PSX) by 7.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 113,076 shares of the oil and gas company’s stock after buying an additional 8,195 shares during the quarter. Osaic Holdings Inc.’s holdings in Phillips 66 were worth $13,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 14.8% in 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 purchasing an additional 5,978,841 shares during the period. Norges Bank bought a new stake in shares of Phillips 66 in the second quarter valued at about $523,755,000. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 17.4% during the second 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 buying an additional 1,532,967 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after buying an additional 1,431,450 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PSX. TD Cowen boosted their target price on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho increased their target price on shares of Phillips 66 from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. BMO Capital Markets lifted their price target on shares of Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Finally, Raymond James Financial increased their price objective on shares of Phillips 66 from $153.00 to $169.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and a consensus price target of $148.35.

Phillips 66 Stock Performance

Shares of PSX stock opened at $128.95 on Friday. The stock has a market cap of $51.96 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.67 and a beta of 0.92. The company has a fifty day moving average price of $135.84 and a two-hundred day moving average price of $129.90. Phillips 66 has a one year low of $91.01 and a one year high of $144.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the prior year, the firm earned $2.04 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction 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 $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is owned by insiders.

About Phillips 66

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.