BXM Wealth LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,280 shares of the oil and gas company's stock, valued at approximately $282,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cohen & Steers Inc. increased its stake in Phillips 66 by 40.3% during the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares during the period. American Assets Investment Management LLC boosted its holdings in Phillips 66 by 2.3% in the fourth quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company's stock valued at $14,902,000 after purchasing an additional 3,000 shares in the last quarter. LBP AM SA boosted its holdings in Phillips 66 by 217.9% in the fourth quarter. LBP AM SA now owns 68,923 shares of the oil and gas company's stock valued at $7,852,000 after purchasing an additional 47,242 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $4,333,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $15,203,000. Institutional investors and hedge funds own 76.93% of the company's stock.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.
Phillips 66 Stock Performance
Shares of NYSE:PSX traded up $3.86 on Thursday, hitting $134.37. 2,710,093 shares of the company were exchanged, compared to its average volume of 3,116,023. The company's 50 day moving average price is $118.36 and its two-hundred day moving average price is $117.43. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.04 and a beta of 1.02.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the firm posted $1.90 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.
Phillips 66 Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.57%. Phillips 66's payout ratio is 109.34%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on PSX shares. UBS Group cut their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Barclays increased their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday. Piper Sandler increased their price target on shares of Phillips 66 from $131.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.07.
Get Our Latest Report on PSX
About Phillips 66
(
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.
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