Fideuram Asset Management Ireland dac bought a new position in Phillips 66 (NYSE:PSX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,612 shares of the oil and gas company’s stock, valued at approximately $701,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc increased its position in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $27,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new stake in shares of Phillips 66 in the 4th quarter worth about $35,000. Institutional investors own 76.93% of the company’s stock.
Phillips 66 Price Performance
PSX opened at $175.79 on Friday. The firm has a market cap of $70.48 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. Phillips 66 has a fifty-two week low of $111.19 and a fifty-two week high of $190.61. The company’s 50-day moving average price is $172.38 and its 200 day moving average price is $154.66. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.
Phillips 66 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.
Analysts Set New Price Targets
Several research firms have recently weighed in on PSX. Barclays boosted their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. TD Cowen boosted their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Citigroup boosted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.28.
View Our Latest Report on Phillips 66
Insider Activity
In other news, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 114,029 shares of company stock valued at $19,641,455. Company insiders own 0.40% of the company’s stock.
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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