Securian Asset Management Inc raised its stake in Phillips 66 (NYSE:PSX) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,029 shares of the oil and gas company’s stock after buying an additional 115 shares during the period. Securian Asset Management Inc’s holdings in Phillips 66 were worth $4,025,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fiduciary Group LLC raised its stake in Phillips 66 by 2.7% during the 2nd quarter. Fiduciary Group LLC now owns 67,271 shares of the oil and gas company’s stock valued at $6,293,000 after purchasing an additional 1,782 shares during the period. Pinnacle Associates Ltd. raised its stake in Phillips 66 by 1.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 41,043 shares of the oil and gas company’s stock valued at $3,839,000 after purchasing an additional 515 shares during the period. GWM Advisors LLC raised its stake in Phillips 66 by 4.9% during the 2nd quarter. GWM Advisors LLC now owns 24,488 shares of the oil and gas company’s stock valued at $2,291,000 after purchasing an additional 1,137 shares during the period. Meeder Asset Management Inc. raised its stake in Phillips 66 by 9.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 95,856 shares of the oil and gas company’s stock valued at $8,966,000 after purchasing an additional 8,565 shares during the period. Finally, Matthew Goff Investment Advisor LLC raised its stake in Phillips 66 by 129.1% during the 2nd quarter. Matthew Goff Investment Advisor LLC now owns 11,112 shares of the oil and gas company’s stock valued at $1,039,000 after purchasing an additional 6,261 shares during the period. 70.37% of the stock is currently owned by institutional investors.
Several analysts have issued reports on PSX shares. Raymond James boosted their target price on shares of Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Monday, April 29th. They noted that the move was a valuation call. Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Morgan Stanley cut their target price on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $117.64.
Shares of NYSE PSX traded down $0.54 during mid-day trading on Thursday, reaching $98.76. The company had a trading volume of 142,040 shares, compared to its average volume of 2,338,844. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $121.54. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The stock has a market capitalization of $44.30 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The stock’s 50 day moving average is $99.87 and its 200-day moving average is $94.20.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The business had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. During the same period in the prior year, the business posted $2.80 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 7.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
Phillips 66 Company 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 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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