ING Groep NV bought a new stake in Phillips 66 (NYSE:PSX – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 46,072 shares of the oil and gas company’s stock, valued at approximately $5,945,000.
Other hedge funds have also made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the fourth quarter valued at $26,000. Accordant Advisory Group Inc increased its position in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Phillips 66 in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Phillips 66 Trading Up 0.1%
Phillips 66 stock opened at $183.21 on Tuesday. The stock has a market cap of $73.46 billion, a PE ratio of 18.05, a P/E/G ratio of 0.27 and a beta of 0.68. The stock has a 50-day moving average price of $172.74 and a 200 day moving average price of $156.62. Phillips 66 has a 52 week low of $114.54 and a 52 week high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.
Phillips 66 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.
Insider Buying and Selling
In related news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 92,229 shares of company stock worth $15,990,030. 0.40% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. UBS Group raised their price target on Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. The Goldman Sachs Group raised their price target on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.28.
Read Our Latest Research Report on Phillips 66
Phillips 66 Company Profile
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.
Read More
- Five stocks we like better than Phillips 66
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.
