Toroso Investments LLC Has $2.81 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Posted by Defense World Staff on Sep 15th, 2023

Toroso Investments LLC increased its stake in Phillips 66 (NYSE:PSX – Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,740 shares of the oil and gas company’s stock after acquiring an additional 5,020 shares during the quarter. Toroso Investments LLC’s holdings in Phillips 66 were worth $2,812,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Worth Asset Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $32,000. Achmea Investment Management B.V. bought a new stake in Phillips 66 during the first quarter valued at $40,000. Graves Light Lenhart Wealth Inc. acquired a new stake in Phillips 66 during the 1st quarter worth about $47,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Phillips 66 by 44.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 650 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 200 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Phillips 66 by 129.7% in the 1st quarter. Covestor Ltd now owns 641 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 362 shares during the period. 71.83% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.1 %

Shares of Phillips 66 stock opened at $123.00 on Friday. The firm has a market cap of $54.77 billion, a PE ratio of 5.34, a P/E/G ratio of 0.41 and a beta of 1.37. Phillips 66 has a 1 year low of $74.02 and a 1 year high of $125.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.33 and a quick ratio of 0.90. The stock has a fifty day moving average price of $110.94 and a 200-day moving average price of $102.35.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.33. The business had revenue of $35.74 billion during the quarter, compared to the consensus estimate of $32.13 billion. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. During the same quarter last year, the company posted $6.77 earnings per share. Equities research analysts anticipate that Phillips 66 will post 15.45 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $1.05 dividend. The ex-dividend date was Thursday, August 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.41%. Phillips 66’s dividend payout ratio (DPR) is presently 18.22%.

Insider Activity at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $117.02, for a total value of $819,140.00. Following the completion of the sale, the vice president now directly owns 6,682 shares of the company’s stock, valued at $781,927.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Greg C. Garland sold 169,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $111.44, for a total value of $18,877,936.00. Following the sale, the chairman now owns 662,366 shares of the company’s stock, valued at $73,814,067.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $117.02, for a total transaction of $819,140.00. Following the sale, the vice president now owns 6,682 shares in the company, valued at $781,927.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,648 shares of company stock worth $41,396,371. Insiders own 4.57% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent analyst reports. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the stock from $132.00 to $141.00 in a research note on Tuesday, August 15th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $125.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, September 1st. Argus increased their target price on shares of Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. TD Cowen raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $123.00 in a research note on Thursday, June 1st. Finally, Piper Sandler increased their price objective on shares of Phillips 66 from $130.00 to $136.00 in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.47.

View Our Latest Analysis on PSX

Phillips 66 Profile

(Free Report)

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.