Optimal Asset Management Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,321 shares of the oil and gas company’s stock after purchasing an additional 201 shares during the period. Optimal Asset Management Inc.’s holdings in Phillips 66 were worth $842,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PSX. Mascoma Wealth Management LLC purchased a new position in shares of Phillips 66 in the first quarter worth about $25,000. Curi Capital purchased a new position in Phillips 66 during the fourth quarter valued at approximately $28,000. Alpha DNA Investment Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in Phillips 66 by 123.6% during the first quarter. Larson Financial Group LLC now owns 389 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 215 shares in the last quarter. Finally, tru Independence LLC grew its stake in Phillips 66 by 134.0% during the fourth quarter. tru Independence LLC now owns 468 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 68.99% of the company’s stock.
Several equities analysts recently commented on PSX shares. Piper Sandler cut shares of Phillips 66 from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $85.00 in a research note on Thursday, April 1st. They noted that the move was a valuation call. cut their price target on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 9th. Citigroup cut their price target on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 9th. Mizuho boosted their price target on shares of Phillips 66 from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 17th. Finally, Raymond James boosted their price target on shares of Phillips 66 from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Phillips 66 currently has an average rating of “Buy” and an average price target of $88.82.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Thursday, April 29th. The oil and gas company reported ($1.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.40) by $0.24. Phillips 66 had a negative net margin of 3.22% and a negative return on equity of 6.12%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $16.57 billion. During the same period in the prior year, the business earned $1.02 EPS. Equities research analysts expect that Phillips 66 will post 2.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Wednesday, August 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Tuesday, August 17th. Phillips 66’s dividend payout ratio is presently -404.49%.
Phillips 66 Profile
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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