ING Groep NV acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,334 shares of the oil and gas company’s stock, valued at approximately $438,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PSX. Rowland & Co. Investment Counsel ADV bought a new stake in Phillips 66 in the fourth quarter worth approximately $102,000. Mountain Capital Investment Advisors Inc bought a new stake in Phillips 66 in the second quarter worth approximately $127,000. FTB Advisors Inc. grew its position in Phillips 66 by 112.9% in the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 780 shares in the last quarter. BB&T Investment Services Inc. bought a new stake in Phillips 66 in the second quarter worth approximately $138,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in Phillips 66 in the third quarter worth approximately $141,000. 71.09% of the stock is currently owned by hedge funds and other institutional investors.
PSX has been the subject of several recent research reports. UBS Group boosted their target price on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price for the company in a research report on Monday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Goldman Sachs Group raised shares of Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a research report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $103.89.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.
Shares of Phillips 66 (PSX) opened at $91.99 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. The stock has a market cap of $46,620.00, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.50 and a beta of 1.11. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $107.47.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $30.71 billion. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $0.16 EPS. analysts anticipate that Phillips 66 will post 7.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio is currently 70.53%.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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