Cornercap Investment Counsel Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,329 shares of the oil and gas company’s stock after selling 2,420 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Phillips 66 were worth $1,949,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Acima Private Wealth LLC increased its stake in shares of Phillips 66 by 2.8% in the fourth quarter. Acima Private Wealth LLC now owns 3,643 shares of the oil and gas company’s stock worth $406,000 after purchasing an additional 100 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Phillips 66 by 56.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Advisory Alpha LLC grew its position in Phillips 66 by 18.0% during the fourth quarter. Advisory Alpha LLC now owns 800 shares of the oil and gas company’s stock worth $84,000 after buying an additional 122 shares in the last quarter. HCR Wealth Advisors grew its position in Phillips 66 by 4.3% during the fourth quarter. HCR Wealth Advisors now owns 3,025 shares of the oil and gas company’s stock worth $337,000 after buying an additional 125 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its position in Phillips 66 by 0.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 19,218 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 69.03% of the company’s stock.
NYSE PSX traded down $0.63 during trading on Friday, reaching $76.46. 2,031,543 shares of the company traded hands, compared to its average volume of 4,297,782. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. The stock’s 50 day moving average price is $64.94 and its two-hundred day moving average price is $88.00. The company has a market cap of $33.66 billion, a price-to-earnings ratio of 112.44, a P/E/G ratio of 6.26 and a beta of 1.59. Phillips 66 has a 1-year low of $40.04 and a 1-year high of $119.92.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.63 by $0.39. The business had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $22.04 billion. Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same period in the previous year, the business earned $0.40 EPS. Equities research analysts expect that Phillips 66 will post 2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, May 15th. Phillips 66’s payout ratio is currently 44.72%.
In other Phillips 66 news, Director Gary Kramer Adams bought 1,250 shares of Phillips 66 stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $76.40 per share, with a total value of $95,500.00. Following the acquisition, the director now directly owns 10,213 shares of the company’s stock, valued at $780,273.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. Lowe acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $74.93 per share, with a total value of $74,930.00. The disclosure for this purchase can be found here. Insiders bought a total of 4,250 shares of company stock worth $323,850 over the last three months. 0.63% of the stock is owned by company insiders.
PSX has been the topic of a number of recent research reports. Wells Fargo & Co decreased their target price on Phillips 66 from $130.00 to $78.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Piper Sandler decreased their target price on Phillips 66 from $139.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Wolfe Research downgraded Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 target price on the stock. in a research report on Wednesday, May 13th. Cowen decreased their target price on Phillips 66 from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Cfra decreased their target price on Phillips 66 from $110.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Two analysts have rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. Phillips 66 has a consensus rating of “Buy” and a consensus target price of $89.00.
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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