Oak Thistle LLC grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 220.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,532 shares of the oil and gas company's stock after acquiring an additional 15,496 shares during the period. Oak Thistle LLC's holdings in Phillips 66 were worth $2,782,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new stake in Phillips 66 in the fourth quarter valued at $497,648,000. Capitolis Liquid Global Markets LLC purchased a new stake in Phillips 66 in the fourth quarter valued at $142,185,000. GAMMA Investing LLC lifted its position in Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after buying an additional 942,922 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.
Phillips 66 Stock Up 0.5%
Shares of PSX traded up $0.59 during midday trading on Friday, hitting $124.91. The company had a trading volume of 3,661,611 shares, compared to its average volume of 3,485,347. The company's 50 day moving average price is $121.57 and its 200 day moving average price is $118.52. The stock has a market cap of $50.89 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.95 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.
Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.
Phillips 66 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 109.34%.
Analyst Upgrades and Downgrades
PSX has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price for the company. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $135.20.
View Our Latest Research Report on PSX
Insider Activity at Phillips 66
In related 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 transaction of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.
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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