Stephens Inc. AR grew its stake in Phillips 66 (NYSE:PSX) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,296 shares of the oil and gas company’s stock after acquiring an additional 550 shares during the quarter. Stephens Inc. AR’s holdings in Phillips 66 were worth $1,836,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PSX. Oregon Public Employees Retirement Fund boosted its holdings in Phillips 66 by 3,775.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,527,183 shares in the last quarter. Norges Bank purchased a new position in shares of Phillips 66 in the fourth quarter worth $386,757,000. LSV Asset Management raised its stake in shares of Phillips 66 by 96.9% in the fourth quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock worth $275,803,000 after purchasing an additional 1,575,744 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Phillips 66 by 7.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock worth $1,175,542,000 after purchasing an additional 958,545 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Phillips 66 by 2.8% in the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after purchasing an additional 885,979 shares during the last quarter. 71.83% of the stock is currently owned by institutional investors and hedge funds.
PSX has been the subject of several recent analyst reports. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, April 29th. They noted that the move was a valuation call. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Citigroup boosted their price target on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Argus decreased their price target on Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Finally, Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and upped their price objective for the company from $105.00 to $107.00 in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $119.42.
In related news, Director John E. Lowe acquired 2,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $84.41 per share, with a total value of $168,820.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Shares of NYSE PSX traded down $1.89 during mid-day trading on Friday, reaching $86.41. The company’s stock had a trading volume of 797,511 shares, compared to its average volume of 2,721,682. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The company had revenue of $23.66 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period in the prior year, the company earned $1.04 earnings per share. Research analysts expect that Phillips 66 will post 7.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 4.17%. Phillips 66’s dividend payout ratio is presently 27.33%.
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About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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