Roberts Glore & Co. Inc. IL raised its position in Phillips 66 (NYSE:PSX) by 26.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,891 shares of the oil and gas company’s stock after acquiring an additional 1,219 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Phillips 66 were worth $316,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PSX. Wealthfront Advisers LLC increased its position in shares of Phillips 66 by 8.0% during the fourth quarter. Wealthfront Advisers LLC now owns 8,882 shares of the oil and gas company’s stock valued at $990,000 after buying an additional 661 shares during the period. RFG Advisory LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at about $535,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Phillips 66 by 138.6% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,734 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 1,588 shares during the period. SeaCrest Wealth Management LLC increased its position in shares of Phillips 66 by 6.1% during the fourth quarter. SeaCrest Wealth Management LLC now owns 4,256 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 245 shares during the period. Finally, Savior LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 69.03% of the company’s stock.
PSX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Phillips 66 from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a research report on Friday, March 27th. Cowen reduced their price target on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. ValuEngine cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, May 8th. Finally, Wolfe Research lowered shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price objective on the stock. in a research note on Wednesday, May 13th. Two analysts have rated the stock with a sell rating and seventeen have issued a buy rating to the company’s stock. Phillips 66 currently has an average rating of “Buy” and a consensus price target of $89.00.
Shares of NYSE PSX traded down $0.63 during midday trading on Friday, hitting $76.46. The stock had a trading volume of 2,031,543 shares, compared to its average volume of 4,297,782. The business’s 50 day moving average is $64.94 and its 200-day moving average is $88.00. The company has a market cap of $33.66 billion, a P/E ratio of 112.44, a PEG ratio of 6.26 and a beta of 1.59. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.39. The firm had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $22.04 billion. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, analysts expect that Phillips 66 will post 2.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.60 annualized dividend and a dividend yield of 4.71%. Phillips 66’s dividend payout ratio is presently 44.72%.
About Phillips 66
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 products to market; provides terminaling and storage services for crude oil and 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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