HM Payson & Co. decreased its position in Phillips 66 (NYSE:PSX) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,615 shares of the oil and gas company’s stock after selling 25,322 shares during the quarter. HM Payson & Co. owned 0.06% of Phillips 66 worth $27,810,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PSX. Renaissance Technologies LLC grew its position in Phillips 66 by 824.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,922,902 shares of the oil and gas company’s stock valued at $214,231,000 after acquiring an additional 1,715,002 shares in the last quarter. State Street Corp boosted its stake in shares of Phillips 66 by 4.9% during the 3rd quarter. State Street Corp now owns 22,727,392 shares of the oil and gas company’s stock valued at $2,327,285,000 after buying an additional 1,064,558 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Phillips 66 by 5,197.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 764,938 shares of the oil and gas company’s stock valued at $85,222,000 after buying an additional 750,499 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Phillips 66 by 285.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 880,865 shares of the oil and gas company’s stock valued at $97,345,000 after buying an additional 652,555 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Phillips 66 by 66.2% during the 4th quarter. First Trust Advisors LP now owns 1,478,136 shares of the oil and gas company’s stock valued at $164,679,000 after buying an additional 588,711 shares during the last quarter. 69.99% of the stock is owned by institutional investors.
In other news, Director John E. Lowe acquired 1,000 shares of Phillips 66 stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $74.93 per share, for a total transaction of $74,930.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.
PSX has been the subject of several research analyst reports. Morgan Stanley upgraded Phillips 66 from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research note on Monday, March 16th. Cfra reduced their target price on Phillips 66 from $110.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Royal Bank of Canada reiterated a “hold” rating and set a $73.00 target price on shares of Phillips 66 in a research note on Wednesday, March 18th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating and reduced their target price for the company from $110.00 to $73.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Phillips 66 has a consensus rating of “Buy” and a consensus target price of $93.00.
PSX traded up $3.78 during trading hours on Thursday, hitting $54.29. 896,193 shares of the stock were exchanged, compared to its average volume of 6,599,424. The stock has a 50-day simple moving average of $73.08 and a 200-day simple moving average of $99.70. Phillips 66 has a 12 month low of $40.04 and a 12 month high of $119.92. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 0.91.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.01. Phillips 66 had a return on equity of 13.51% and a net margin of 2.81%. The firm had revenue of $29.61 billion for the quarter, compared to analysts’ expectations of $27.30 billion. During the same period last year, the business posted $4.87 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 18th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 6.63%. The ex-dividend date was Friday, February 14th. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
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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