National Asset Management Inc. raised its stake in Phillips 66 (NYSE:PSX) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,558 shares of the oil and gas company’s stock after buying an additional 738 shares during the period. National Asset Management Inc.’s holdings in Phillips 66 were worth $1,105,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its holdings in shares of Phillips 66 by 1.4% in the 4th quarter. Baird Financial Group Inc. now owns 113,434 shares of the oil and gas company’s stock worth $12,637,000 after buying an additional 1,531 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Phillips 66 by 5.9% in the 4th quarter. Raymond James & Associates now owns 614,876 shares of the oil and gas company’s stock worth $68,504,000 after buying an additional 34,478 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Phillips 66 by 2.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,844 shares of the oil and gas company’s stock worth $11,792,000 after buying an additional 2,157 shares during the last quarter. CWS Financial Advisors LLC bought a new position in shares of Phillips 66 in the 4th quarter worth $265,000. Finally, NuWave Investment Management LLC increased its holdings in shares of Phillips 66 by 815.7% in the 4th quarter. NuWave Investment Management LLC now owns 11,639 shares of the oil and gas company’s stock worth $1,296,000 after buying an additional 10,368 shares during the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $76.71 per share, with a total value of $153,420.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $76.40 per share, with a total value of $95,500.00. Following the completion of the transaction, the director now owns 10,213 shares in the company, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 4,250 shares of company stock valued at $323,850. Corporate insiders own 0.63% of the company’s stock.
PSX traded down $0.63 during trading on Friday, hitting $76.46. 2,031,543 shares of the stock traded hands, compared to its average volume of 4,297,782. The firm has a market capitalization of $33.66 billion, a P/E ratio of 112.44, a price-to-earnings-growth ratio of 6.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.61. The firm has a 50-day moving average of $64.94 and a 200 day moving average of $88.00. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $119.92.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.39. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The business had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, equities analysts predict that Phillips 66 will post 2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a $0.90 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.60 annualized dividend and a dividend yield of 4.71%. Phillips 66’s dividend payout ratio is 44.72%.
A number of brokerages have recently commented on PSX. Mizuho raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Monday, May 4th. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Cowen cut their price objective on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $68.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a sell rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $89.00.
Phillips 66 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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