Monetta Financial Services Inc. Buys New Holdings in Phillips 66 $PSX

Monetta Financial Services Inc. acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,100 shares of the oil and gas company’s stock, valued at approximately $1,374,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at about $32,000. Winnow Wealth LLC bought a new position in Phillips 66 during the third quarter valued at approximately $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter worth approximately $38,000. Finally, Operose Advisors LLC grew its holdings in shares of Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 250 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSX. UBS Group reissued a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Scotiabank reissued a “sector perform” rating and set a $140.00 price objective on shares of Phillips 66 in a research report on Friday, January 16th. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Barclays set a $158.00 price target on Phillips 66 in a report on Friday. Finally, Wall Street Zen downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Ten analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.11.

Phillips 66 Price Performance

Shares of PSX stock opened at $154.73 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $62.34 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.55 and a beta of 0.90. The stock has a fifty day simple moving average of $142.24 and a two-hundred day simple moving average of $136.44. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter last year, the company earned ($0.15) earnings per share. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. Phillips 66’s payout ratio is presently 44.36%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,788 shares of company stock worth $6,067,250. Corporate insiders own 0.22% of the company’s stock.

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.