National Asset Management Inc. boosted its position in Phillips 66 (NYSE:PSX) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,558 shares of the oil and gas company’s stock after purchasing an additional 738 shares during the period. National Asset Management Inc.’s holdings in Phillips 66 were worth $1,105,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PSX. Total Clarity Wealth Management Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at about $28,000. Efficient Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter valued at about $28,000. Lighthouse Financial Advisors Inc. bought a new position in Phillips 66 in the 4th quarter valued at about $30,000. Savior LLC bought a new position in Phillips 66 in the 4th quarter valued at about $32,000. Finally, JFS Wealth Advisors LLC raised its holdings in Phillips 66 by 56.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 69.03% of the company’s stock.
Several research analysts have weighed in on the stock. Raymond James increased their price target on shares of Phillips 66 from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Morgan Stanley increased their price target on shares of Phillips 66 from $68.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Wolfe Research cut shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target on the stock. in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a sell rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $89.00.
Shares of PSX traded down $0.63 during mid-day trading on Friday, hitting $76.46. 2,031,543 shares of the company’s stock were exchanged, compared to its average volume of 4,297,782. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The stock’s 50-day simple moving average is $64.94 and its 200-day simple moving average is $88.00. The firm has a market cap of $33.66 billion, a price-to-earnings ratio of 112.44, a price-to-earnings-growth ratio of 6.26 and a beta of 1.59. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.39. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The firm had revenue of $21.24 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the business posted $0.40 earnings per share. Analysts forecast that Phillips 66 will post 2.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.71%. Phillips 66’s dividend payout ratio is currently 44.72%.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $76.71 per share, for a total transaction of $153,420.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Kramer Adams purchased 1,250 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $76.40 per share, for a total transaction of $95,500.00. Following the acquisition, the director now owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders acquired 4,250 shares of company stock worth $323,850 in the last 90 days. Company insiders own 0.63% of the company’s stock.
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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