SIR Capital Management L.P. Buys Shares of 106,930 Phillips 66 $PSX

SIR Capital Management L.P. bought a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 106,930 shares of the oil and gas company’s stock, valued at approximately $13,798,000. Phillips 66 comprises 1.5% of SIR Capital Management L.P.’s holdings, making the stock its 22nd largest holding.

Other hedge funds have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC raised its position in shares of Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares in the last quarter. L2 Asset Management LLC raised its position in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after buying an additional 73 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $179.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The firm has a market capitalization 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. The company’s 50-day moving average is $172.49 and its 200 day moving average is $157.75.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the company posted ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts forecast that Phillips 66 will post 17.86 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. TD Cowen upped their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. BMO Capital Markets upped their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group upped their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Scotiabank upped their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.33.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,629 shares of company stock worth $8,071,540 over the last 90 days. Insiders own 0.40% of the company’s stock.

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.