J. Goldman & Co LP Invests $3.32 Million in Phillips 66 $PSX

J. Goldman & Co LP bought a new stake in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 19,663 shares of the oil and gas company’s stock, valued at approximately $3,324,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. NFSG Corp lifted its position in shares of Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $27,000. Compass Financial Management LLC bought a new stake in Phillips 66 in the second quarter valued at $28,000. Kelleher Financial Advisors bought a new stake in Phillips 66 in the second quarter valued at $29,000. Finally, J.Safra Asset Management Corp acquired a new position in Phillips 66 during the second quarter worth $30,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Shares of PSX stock opened at $237.00 on Wednesday. The firm has a market cap of $94.57 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $246.95. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $201.55 and a 200 day moving average price of $180.94.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the prior year, the company posted $2.38 EPS. Research analysts expect that Phillips 66 will post 23.86 EPS for the current year.

Phillips 66 declared that its board has authorized a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSX. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Barclays lifted their price target on shares of Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 Company 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.