Insight Folios Inc boosted its stake in Phillips 66 (NYSE: PSX – Get Rating) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,061 shares of the oil and gas company stock after acquiring an additional 311 shares during the quarter. Insight Folios Inc’s holdings in Phillips 66 were worth $ 351,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth approximately $ 276,446,000. Point72 Asset Management LP purchased a new position in Phillips 66 in the 4th quarter worth approximately $ 84,311,000. Marshall Wace LLP boosted its holdings in Phillips 66 by 948.6% in the 4th quarter. Marshall Wace LLP now owns 1,200,562 shares of the oil and gas company stock worth $ 86,991,000 after acquiring an additional 1,086,074 shares during the period. Pacer Advisors Inc. boosted its holdings in Phillips 66 by 1,102.9% in the 1st quarter. Pacer Advisors Inc. now owns 948,524 shares of the oil and gas company stock worth $ 81,943,000 after acquiring an additional 869,670 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Phillips 66 by 101.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,366,000 shares of the oil and gas company stock worth $ 98,980,000 after acquiring an additional 686,400 shares during the period. Hedge funds and other institutional investors own 64.28% of the company stock.
A number of equities analysts have weighed in on PSX shares. Piper Sandler upped their price target on Phillips 66 from $ 119.00 to $ 120.00 and gave the stock an “overweight” rating in a report on Monday, May 23rd. Citigroup started coverage on Phillips 66 in a research note on Tuesday, April 26th. They set a “neutral” rating and a $ 89.00 target price for the company. Credit Suisse Group increased their target price on Phillips 66 to $ 122.00 in a research note on Thursday, June 9th. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Finally, BMO Capital Markets started coverage on Phillips 66 in a research note on Monday, June 13th. They set an “outperform” rating and a $ 132.00 target price for the company. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $ 104.47.
In other news, CEO Greg C. Garland sold 146,700 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $ 109.70, for a total transaction of $ 16,092,990.00. Following the transaction, the chief executive officer now directly owns 656,563 shares of the company stock, valued at $ 72,024,961.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert A. Herman sold 47,200 shares of Phillips 66 stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $ 102.82, for a total value of $ 4,853,104.00. Following the transaction, the executive vice president now directly owns 64,106 shares in the company, valued at $ 6,591,378.92. The disclosure for this sale can be found here. Insiders sold 297,700 shares of company stock worth $ 32,327,782 over the last ninety days. 0.74% of the stock is owned by corporate insiders.
Shares of NYSE PSX opened at $ 84.20 on Monday. Phillips 66 has a 1-year low of $ 63.19 and a 1-year high of $ 111.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 0.87. The business’s fifty day moving average price is $ 94.87 and its two-hundred day moving average price is $ 86.51. The firm has a market capitalization of $ 40.51 billion, a PE ratio of 14.67, a P / E / G ratio of 0.60 and a beta of 1.39.
Phillips 66 (NYSE: PSX – Get Rating) last issued its earnings results on Friday, April 29th. The oil and gas company reported $ 1.32 earnings per share for the quarter, topping the estimate consensus 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 analyst estimates of $ 34.86 billion. During the same period last year, the company earned ($ 1.16) earnings per share. Equities research analysts expect that Phillips 66 will post 12.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were given a $ 0.97 dividend. The ex-dividend date of this dividend was Friday, May 20th. This is a positive change from Phillips 66’s previous quarterly dividend of $ 0.92. This represents a $ 3.88 annualized dividend and a yield of 4.61%. Phillips 66’s dividend payout ratio (DPR) 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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