Busey Wealth Management decreased its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 3.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,316 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Busey Wealth Management’s holdings in Phillips 66 were worth $373,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Mutual Advisors LLC grew its stake in Phillips 66 by 3.2% in the fourth quarter. Mutual Advisors LLC now owns 3,529 shares of the oil and gas company’s stock worth $256,000 after purchasing an additional 111 shares in the last quarter. Harbor Investment Management LLC grew its stake in Phillips 66 by 0.7% in the fourth quarter. Harbor Investment Management LLC now owns 15,577 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 112 shares in the last quarter. M&R Capital Management Inc. grew its stake in Phillips 66 by 4.2% in the first quarter. M&R Capital Management Inc. now owns 3,088 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 125 shares in the last quarter. First Community Trust NA grew its stake in Phillips 66 by 60.6% in the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 126 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its stake in Phillips 66 by 1.0% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 12,861 shares of the oil and gas company’s stock worth $932,000 after purchasing an additional 129 shares in the last quarter. 64.28% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $109.00 price objective on shares of Phillips 66 in a research note on Friday. Wells Fargo & Company raised their target price on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Piper Sandler raised their target price on Phillips 66 from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, May 23rd. BMO Capital Markets assumed coverage on Phillips 66 in a report on Monday, June 13th. They set an “outperform” rating and a $132.00 target price for the company. Finally, Credit Suisse Group raised their target price on Phillips 66 to $122.00 in a report on Thursday, June 9th. Three equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.
Shares of PSX opened at $84.37 on Friday. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28. The stock has a fifty-day moving average price of $94.70 and a 200-day moving average price of $86.91. 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 firm has a market cap of $40.59 billion, a PE ratio of 14.70, a P/E/G ratio of 0.55 and a beta of 1.44.
Phillips 66 (NYSE:PSX – Get Rating) last released its earnings results 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. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. The firm had revenue of $36.72 billion for the quarter, compared to the consensus estimate of $34.86 billion. During the same period in the previous year, the firm earned ($1.16) EPS. As a group, research analysts forecast that Phillips 66 will post 12.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 23rd were given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.60%. This is an increase from Phillips 66’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, May 20th. Phillips 66’s dividend payout ratio is currently 67.60%.
In related news, EVP Timothy D. Roberts sold 59,100 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was 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 of the company’s stock, valued at approximately $5,312,232.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Greg C. Garland sold 146,700 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $109.70, for a total value of $16,092,990.00. Following the completion of the transaction, the chief executive officer now directly owns 656,563 shares in the company, valued at $72,024,961.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 297,700 shares of company stock worth $32,327,782. 0.74% of the stock is owned by insiders.
Phillips 66 Company Profile: (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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