Phoenix Financial Ltd. purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,595 shares of the oil and gas company's stock, valued at approximately $694,000.
Several other hedge funds have also made changes to their positions in PSX. Brighton Jones LLC boosted its position in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Phillips 66 by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 651,668 shares of the oil and gas company's stock valued at $75,652,000 after buying an additional 29,673 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in Phillips 66 by 25.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 32,747 shares of the oil and gas company's stock worth $3,731,000 after buying an additional 6,662 shares during the last quarter. NEOS Investment Management LLC increased its holdings in Phillips 66 by 31.3% in the fourth quarter. NEOS Investment Management LLC now owns 26,087 shares of the oil and gas company's stock worth $2,972,000 after buying an additional 6,221 shares during the last quarter. Finally, Norges Bank bought a new position in Phillips 66 during the fourth quarter valued at approximately $497,648,000. Hedge funds and other institutional investors own 76.93% of the company's stock.
Phillips 66 Stock Performance
PSX traded down $2.83 on Wednesday, hitting $125.58. 642,418 shares of the stock traded hands, compared to its average volume of 3,460,828. The business has a fifty day moving average price of $121.82 and a two-hundred day moving average price of $118.79. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $51.17 billion, a PE ratio of 30.14, a P/E/G ratio of 1.85 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.
Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.86% and a net margin of 1.27%. During the same period in the previous year, the business posted $2.31 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is 115.38%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target on the stock. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Wells Fargo & Company decreased their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Finally, UBS Group lifted their price target on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research report on Monday. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $136.13.
Check Out Our Latest Report on Phillips 66
Insider Activity
In related news, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Phillips 66 Profile
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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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