Sciencast Management LP acquired a new position in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,510 shares of the oil and gas company’s stock, valued at approximately $460,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Efficient Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter worth $28,000. Prestige Wealth Management Group LLC lifted its stake in Phillips 66 by 179.5% during the first quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 359 shares during the last quarter. Harwood Advisory Group LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth about $36,000. Altshuler Shaham Ltd increased its position in shares of Phillips 66 by 825.0% during the 1st quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 627 shares during the last quarter. Finally, First Bank & Trust purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $39,000. 66.79% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on PSX shares. Mizuho cut their price objective on shares of Phillips 66 from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Monday, July 20th. Citigroup lowered their target price on Phillips 66 from $103.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Wells Fargo & Co cut Phillips 66 from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a report on Wednesday, July 22nd. Finally, Credit Suisse Group lifted their price target on Phillips 66 from $72.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $83.47.
Shares of Phillips 66 stock opened at $62.02 on Friday. The business has a 50 day moving average of $67.98 and a 200 day moving average of $73.22. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The company has a market cap of $27.08 billion, a PE ratio of 12.58, a P/E/G ratio of 6.42 and a beta of 1.60. 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 quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The company had revenue of $11.18 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm posted $3.02 earnings per share. On average, research analysts anticipate that Phillips 66 will post 1.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.90 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.60 annualized dividend and a yield of 5.80%. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
In other Phillips 66 news, Director Gary Kramer Adams bought 1,250 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average price of $76.40 per share, for a total transaction of $95,500.00. Following the acquisition, the director now owns 10,213 shares in the company, valued at approximately $780,273.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director John E. Lowe bought 1,500 shares of Phillips 66 stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $68.43 per share, for a total transaction of $102,645.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,750 shares of company stock worth $268,305. Insiders own 0.63% of the company’s stock.
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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