Allworth Financial LP raised its holdings in Phillips 66 (NYSE:PSX – Free Report) by 235.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,691 shares of the oil and gas company’s stock after purchasing an additional 43,277 shares during the period. Allworth Financial LP’s holdings in Phillips 66 were worth $7,961,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. GHP Investment Advisors Inc. increased its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 72 shares during the last quarter. L2 Asset Management LLC lifted its position in Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Phillips 66 by 0.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after buying an additional 73 shares during the period. KCM Investment Advisors LLC boosted its stake in Phillips 66 by 1.6% during the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after buying an additional 74 shares during the period. Finally, Abacus Planning Group Inc. increased its position in shares of Phillips 66 by 3.9% during the fourth quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on PSX shares. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Barclays lifted their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Wells Fargo & Company boosted their target price on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Argus lifted their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.28.
Insider Buying and Selling at Phillips 66
In related news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This represents a 16.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 121,529 shares of company stock worth $20,841,455. 0.40% of the stock is owned by insiders.
Phillips 66 Stock Up 2.9%
Shares of NYSE PSX opened at $176.42 on Friday. The business has a 50-day moving average of $170.79 and a two-hundred day moving average of $151.81. The company has a market capitalization of $70.73 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. Phillips 66 has a 1 year low of $109.75 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.
Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.90) EPS. On average, analysts forecast that Phillips 66 will post 17.39 earnings per share for the current fiscal year.
Phillips 66 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.
About Phillips 66
Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.
The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.
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