Commonwealth Equity Services LLC boosted its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,772 shares of the oil and gas company’s stock after acquiring an additional 7,973 shares during the period. Commonwealth Equity Services LLC owned 0.06% of Phillips 66 worth $26,399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Fiduciary Alliance LLC bought a new stake in Phillips 66 during the second quarter worth about $30,000. YHB Investment Advisors Inc. boosted its position in shares of Phillips 66 by 2.1% during the 2nd quarter. YHB Investment Advisors Inc. now owns 12,991 shares of the oil and gas company’s stock worth $1,239,000 after acquiring an additional 265 shares in the last quarter. Cypress Capital Group increased its stake in Phillips 66 by 12.8% in the first quarter. Cypress Capital Group now owns 63,778 shares of the oil and gas company’s stock valued at $6,466,000 after acquiring an additional 7,245 shares during the last quarter. Marion Wealth Management raised its position in Phillips 66 by 2.8% during the second quarter. Marion Wealth Management now owns 12,510 shares of the oil and gas company’s stock valued at $1,193,000 after purchasing an additional 340 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Phillips 66 during the second quarter worth $1,793,000. 71.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PSX. Wells Fargo & Company boosted their price target on Phillips 66 from $130.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Tudor, Pickering, Holt & Co. raised Phillips 66 from a “hold” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $130.00 in a research note on Monday, October 30th. StockNews.com assumed coverage on shares of Phillips 66 in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Mizuho lowered their price objective on shares of Phillips 66 from $131.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, October 6th. Finally, Piper Sandler cut their target price on shares of Phillips 66 from $138.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.50.
Insider Activity at Phillips 66
In other Phillips 66 news, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the completion of the sale, the executive vice president now directly owns 80,009 shares in the company, valued at approximately $9,953,919.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,682 shares of the company’s stock, valued at $781,927.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total value of $1,613,597.70. Following the transaction, the executive vice president now owns 80,009 shares in the company, valued at $9,953,919.69. The disclosure for this sale can be found here. Insiders have sold a total of 50,770 shares of company stock worth $6,158,614 over the last quarter. Company insiders own 4.57% of the company’s stock.
Phillips 66 Trading Up 2.5 %
NYSE PSX opened at $116.37 on Monday. The firm has a market capitalization of $51.20 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 0.39 and a beta of 1.34. The business’s 50-day moving average price is $115.72 and its two-hundred day moving average price is $107.28. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $125.19.
Phillips 66 (NYSE:PSX – Get Free Report) last announced its earnings results on Friday, October 27th. The oil and gas company reported $4.63 EPS for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same period in the prior year, the firm earned $6.46 earnings per share. On average, analysts expect that Phillips 66 will post 15.45 EPS for the current year.
Phillips 66 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 16th. Phillips 66’s dividend payout ratio is presently 25.33%.
Phillips 66 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.
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