Stolper Co lifted its position in Phillips 66 (NYSE:PSX – Get Rating) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,733 shares of the oil and gas company’s stock after acquiring an additional 2,752 shares during the quarter. Phillips 66 accounts for approximately 2.0% of Stolper Co’s holdings, making the stock its 22nd largest position. Stolper Co’s holdings in Phillips 66 were worth $4,656,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Fortem Financial Group LLC grew its position in shares of Phillips 66 by 0.9% in the 3rd quarter. Fortem Financial Group LLC now owns 10,409 shares of the oil and gas company’s stock worth $840,000 after acquiring an additional 94 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Phillips 66 by 1.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 7,385 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 97 shares in the last quarter. Resources Management Corp CT ADV boosted its position in Phillips 66 by 1.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 10,405 shares of the oil and gas company’s stock valued at $840,000 after purchasing an additional 100 shares during the period. Carolinas Wealth Consulting LLC boosted its position in Phillips 66 by 9.7% during the 3rd quarter. Carolinas Wealth Consulting LLC now owns 1,142 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 101 shares during the period. Finally, Securian Asset Management Inc. boosted its position in Phillips 66 by 0.3% during the 3rd quarter. Securian Asset Management Inc. now owns 39,080 shares of the oil and gas company’s stock valued at $3,155,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Mizuho reduced their price objective on Phillips 66 from $121.00 to $120.00 in a research report on Friday, March 10th. Royal Bank of Canada boosted their price objective on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. StockNews.com assumed coverage on Phillips 66 in a research report on Thursday. They set a “buy” rating for the company. Finally, Piper Sandler reduced their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $121.27.
Phillips 66 Stock Performance
Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. The firm had revenue of $40.91 billion during the quarter, compared to the consensus estimate of $34.30 billion. During the same period in the prior year, the firm posted $2.94 EPS. On average, research analysts expect that Phillips 66 will post 15.68 EPS for the current fiscal year.
Phillips 66 Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 21st were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, February 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s payout ratio is currently 18.30%.
Insider Transactions at Phillips 66
In other news, Director Gregory Hayes acquired 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were bought at an average price of $97.75 per share, with a total value of $1,001,937.50. Following the purchase, the director now owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.74% of the company’s stock.
Phillips 66 Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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