Veriti Management LLC lifted its stake in Phillips 66 (NYSE:PSX – Get Rating) by 23.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,369 shares of the oil and gas company’s stock after purchasing an additional 1,385 during the quarter. Veriti Management LLC’s holdings in Phillips 66 was worth $637,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Brinker Capital Investments LLC lifted its position in Phillips 66 by 30.1% in the 4th quarter. Brinker Capital Investments LLC now owns 36,613 shares of the oil and gas company’s stock valued at $2,653,000 after acquiring an additional 8,473 shares in the last quarter. Regentatlantic Capital LLC lifted its position in Phillips 66 by 0.6% in the 4th quarter. Regentatlantic Capital LLC now owns 37,479 shares of the oil and gas company’s stock valued at $2,716,000 after acquiring an additional 230 shares in the last quarter. Mountain Capital Investment Advisors Inc lifted its position in Phillips 66 by 128.7% in the 4th quarter. Mountain Capital Investment Advisors Inc now owns 14,213 shares of the oil and gas company’s stock valued at $1,224,000 after acquiring an additional 7,997 shares in the last quarter. Patten & Patten Inc. TN lifted its position in Phillips 66 by 7.6% in the 4th quarter. Patten & Patten Inc. TN now owns 18,671 shares of the oil and gas company’s stock valued at $1,353,000 after acquiring an additional 1,318 shares in the last quarter. Finally, CWM LLC bought a new position in Phillips 66 in the 4th quarter valued at approximately $1,129,000. 64.28% of the stock is currently owned by hedge funds and other institutional investors.
In other Phillips 66 news, CEO Greg C. Garland sold 146,700 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total value of $16,092,990.00. Following the completion of the sale, the chief executive officer now owns 656,563 shares in the company, valued at approximately $72,024,961.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy D. Roberts sold 59,100 shares of the 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 completion of the sale, the executive vice president now owns 48,201 shares of the company’s stock, valued at approximately $5,312,232.21. The disclosure for this sale can be found here. Insiders sold a total of 297,700 shares of company stock valued at $32,327,782 in the last quarter. 0.74% of the stock is currently owned by company insiders.
PSX has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Phillips 66 from $102.00 to $112.00 in a research report on Tuesday, May 17th. Citigroup began coverage on shares of Phillips 66 in a research note on Tuesday, April 26th. They set a “neutral” rating and a $89.00 target price for the company. BMO Capital Markets began coverage on shares of Phillips 66 in a research note on Monday, June 13th. They set an “outperform” rating and a $132.00 target price for the company. Wells Fargo & Company boosted 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, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.47.
NYSE:PSX opened at $84.39 on Friday. 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 firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.39. Phillips 66 has a one year low of $63.19 and a one year high of $111.28. The business has a fifty day moving average price of $94.84 and a 200-day moving average price of $86.23.
Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. The business had revenue of $36.72 billion during the quarter, compared to analyst estimates of $34.86 billion. During the same quarter in the prior year, the business posted ($1.16) EPS. On average, equities research analysts expect that Phillips 66 will post 12.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.60%. 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. Phillips 66’s dividend payout ratio is presently 67.60%.
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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