Great Valley Advisor Group Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 32.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,616 shares of the oil and gas company’s stock after purchasing an additional 3,328 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Phillips 66 were worth $1,174,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wedbush Securities Inc. boosted its stake in Phillips 66 by 32.7% in the first quarter. Wedbush Securities Inc. now owns 26,461 shares of the oil and gas company’s stock worth $2,286,000 after buying an additional 6,526 shares in the last quarter. Icon Wealth Partners LLC boosted its stake in Phillips 66 by 2.2% in the first quarter. Icon Wealth Partners LLC now owns 18,479 shares of the oil and gas company’s stock worth $1,596,000 after buying an additional 392 shares in the last quarter. Fifth Third Bancorp boosted its stake in Phillips 66 by 4.8% in the first quarter. Fifth Third Bancorp now owns 61,698 shares of the oil and gas company’s stock worth $5,330,000 after buying an additional 2,815 shares in the last quarter. American Trust Investment Advisors LLC purchased a new stake in Phillips 66 in the first quarter worth approximately $224,000. Finally, Alta Capital Management LLC boosted its stake in Phillips 66 by 7.2% in the first quarter. Alta Capital Management LLC now owns 40,590 shares of the oil and gas company’s stock worth $3,506,000 after buying an additional 2,728 shares in the last quarter. 64.28% of the stock is owned by institutional investors.
Shares of NYSE:PSX opened at $81.99 on Friday. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.60 and a beta of 1.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.87 and a current ratio of 1.13. The stock’s 50-day simple moving average is $94.69 and its two-hundred day simple moving average is $86.70. Phillips 66 has a 52-week low of $63.19 and a 52-week high of $111.28.
Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $1.32 EPS for the quarter, topping 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 quarter last year, the company earned ($1.16) earnings per share. As a group, equities analysts forecast 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. Stockholders of record on Monday, May 23rd were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 20th. This represents a $3.88 annualized dividend and a dividend yield of 4.73%. This is an increase from Phillips 66’s previous quarterly dividend of $0.92. Phillips 66’s dividend payout ratio (DPR) is 67.60%.
In related news, EVP Robert A. Herman sold 47,200 shares of Phillips 66 stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $102.82, for a total transaction of $4,853,104.00. Following the sale, the executive vice president now owns 64,106 shares of the company’s stock, valued at approximately $6,591,378.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paula Ann Johnson sold 44,700 shares of Phillips 66 stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $108.91, for a total value of $4,868,277.00. Following the sale, the vice president now directly owns 102,489 shares in the company, valued at approximately $11,162,076.99. The disclosure for this sale can be found here. Insiders sold 297,700 shares of company stock worth $32,327,782 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.
PSX has been the subject of several research reports. BMO Capital Markets initiated coverage on Phillips 66 in a research note on Monday, June 13th. They issued an “outperform” rating and a $132.00 target price for the company. Piper Sandler increased their price objective on Phillips 66 from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, May 23rd. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Wells Fargo & Company increased their price objective on Phillips 66 from $114.00 to $127.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Finally, Citigroup began coverage on Phillips 66 in a research note on Tuesday, April 26th. They set a “neutral” rating and a $89.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.47.
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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