Canal Capital Management LLC purchased a new stake in Phillips 66 (NYSE:PSX – Get Rating) during the first quarter, according to its most recent filing with the SEC. The firm purchased 2,403 shares of the oil and gas company’s stock, valued at approximately $208,000.
Several other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Phillips 66 by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 8,189,974 shares of the oil and gas company’s stock valued at $591,925,000 after acquiring an additional 535,197 shares during the period. Norges Bank acquired a new stake in Phillips 66 during the 4th quarter worth approximately $276,446,000. Nuveen Asset Management LLC raised its holdings in Phillips 66 by 8.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,470,824 shares of the oil and gas company’s stock worth $251,496,000 after buying an additional 268,302 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,932,447 shares of the oil and gas company’s stock worth $212,486,000 after buying an additional 112,890 shares during the period. Finally, abrdn plc raised its holdings in Phillips 66 by 8.2% during the 4th quarter. abrdn plc now owns 1,726,122 shares of the oil and gas company’s stock worth $125,075,000 after buying an additional 130,631 shares during the period. Institutional investors and hedge funds own 64.28% of the company’s stock.
In other Phillips 66 news, VP Paula Ann Johnson sold 44,700 shares of Phillips 66 stock in a transaction on Tuesday, June 7th. The shares were 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 directly owns 102,489 shares of the company’s stock, valued at $11,162,076.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy D. Roberts sold 59,100 shares of Phillips 66 stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $110.21, for a total transaction 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 $5,312,232.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,700 shares of company stock valued at $32,327,782. Company insiders own 0.74% of the company’s stock.
NYSE:PSX opened at $84.37 on Friday. Phillips 66 has a 1-year low of $63.19 and a 1-year 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 firm has a fifty day simple moving average of $94.70 and a 200 day simple moving average of $86.80. The stock has a market capitalization of $40.59 billion, a PE ratio of 14.70, a P/E/G ratio of 0.60 and a beta of 1.39.
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 for the quarter, beating the consensus estimate of $1.14 by $0.18. Phillips 66 had a net margin of 1.97% and a return on equity of 17.07%. The business had revenue of $36.72 billion during the quarter, compared to analysts’ expectations of $34.86 billion. During the same period last year, the business earned ($1.16) earnings per share. On average, equities analysts predict that Phillips 66 will post 12.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.60%. This is a boost from Phillips 66’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, May 20th. Phillips 66’s payout ratio is 67.60%.
PSX has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Phillips 66 from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, May 23rd. Wells Fargo & Company raised their target price on shares of Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Citigroup assumed coverage on shares of Phillips 66 in a report on Tuesday, April 26th. They set a “neutral” rating and a $89.00 target price on the stock. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $102.00 to $112.00 in a research note on Tuesday, May 17th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.47.
Phillips 66 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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