Hara Capital LLC Takes Position in Phillips 66 (NYSE:PSX)

Hara Capital LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,011 shares of the oil and gas company’s stock, valued at approximately $133,000.

A number of other large investors have also added to or reduced their stakes in PSX. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $17,670,000. M&G Plc acquired a new position in Phillips 66 during the second quarter valued at approximately $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 during the first quarter worth $3,596,000. Meeder Asset Management Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $1,283,000. Finally, Cetera Investment Advisers increased its stake in shares of Phillips 66 by 318.9% in the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. Raymond James upped their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Finally, TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $150.38.

Phillips 66 Trading Down 0.9 %

Shares of PSX traded down $1.09 during mid-day trading on Thursday, reaching $126.81. 225,951 shares of the company were exchanged, compared to its average volume of 2,659,013. The business has a 50 day simple moving average of $130.59 and a two-hundred day simple moving average of $137.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $52.37 billion, a PE ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts predict that Phillips 66 will post 7.69 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.63%. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 Company Profile

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.