Artemis Investment Management LLP purchased a new position in Phillips 66 (NYSE:PSX – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 280,480 shares of the oil and gas company’s stock, valued at approximately $24,178,000. Artemis Investment Management LLP owned approximately 0.06% of Phillips 66 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. apricus wealth LLC lifted its position in shares of Phillips 66 by 9.6% during the 1st quarter. apricus wealth LLC now owns 20,385 shares of the oil and gas company’s stock valued at $1,812,000 after buying an additional 1,785 shares in the last quarter. Wallington Asset Management LLC raised its position in shares of Phillips 66 by 2.9% during the 1st quarter. Wallington Asset Management LLC now owns 112,510 shares of the oil and gas company’s stock valued at $9,720,000 after purchasing an additional 3,175 shares during the period. Miller Howard Investments Inc. NY lifted its stake in shares of Phillips 66 by 80.7% during the 1st quarter. Miller Howard Investments Inc. NY now owns 9,348 shares of the oil and gas company’s stock valued at $808,000 after buying an additional 4,175 shares in the last quarter. Trust Co. of Virginia VA bought a new position in Phillips 66 in the 1st quarter worth $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Phillips 66 by 28.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 182,224 shares of the oil and gas company’s stock worth $15,742,000 after buying an additional 39,918 shares in the last quarter. Institutional investors and hedge funds own 64.28% of the company’s stock.
PSX has been the subject of several research analyst reports. Piper Sandler increased their target price on Phillips 66 from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, May 23rd. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Citigroup assumed coverage on shares of Phillips 66 in a report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Phillips 66 from $114.00 to $127.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Finally, BMO Capital Markets began coverage on shares of Phillips 66 in a research note on Monday, June 13th. They issued an “outperform” rating and a $132.00 price target on the stock. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.
In other Phillips 66 news, VP Paula Ann Johnson sold 44,700 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $108.91, for a total transaction of $4,868,277.00. Following the completion of the transaction, the vice president now owns 102,489 shares in the company, valued at $11,162,076.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy D. Roberts sold 59,100 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $110.21, for a total value of $6,513,411.00. Following the transaction, the executive vice president now directly owns 48,201 shares in the company, valued at approximately $5,312,232.21. The disclosure for this sale can be found here. Insiders have sold 297,700 shares of company stock worth $32,327,782 in the last quarter. Company insiders own 0.74% of the company’s stock.
Shares of NYSE:PSX opened at $84.37 on Friday. The company has a market cap of $40.59 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.55 and a beta of 1.44. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $94.70 and a 200-day moving average price of $86.91.
Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. The business had revenue of $36.72 billion during the quarter, compared to analyst estimates of $34.86 billion. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. During the same period last year, the company earned ($1.16) EPS. As a group, equities analysts forecast that Phillips 66 will post 12.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.60%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, May 20th. Phillips 66’s payout ratio is currently 67.60%.
About Phillips 66: (Get Rating)
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 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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