Private Advisor Group LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,064 shares of the oil and gas company’s stock after acquiring an additional 1,180 shares during the period. Private Advisor Group LLC’s holdings in Phillips 66 were worth $2,251,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Advisors Preferred LLC bought a new stake in shares of Phillips 66 during the second quarter worth approximately $25,000. TRUE Private Wealth Advisors bought a new stake in shares of Phillips 66 during the second quarter worth approximately $26,000. Manchester Financial Inc. bought a new stake in shares of Phillips 66 during the second quarter worth approximately $32,000. Coastal Capital Group Inc. bought a new stake in shares of Phillips 66 during the second quarter worth approximately $37,000. Finally, TCG Advisors LP bought a new stake in shares of Phillips 66 during the first quarter worth approximately $38,000. Institutional investors own 68.71% of the company’s stock.
Shares of PSX stock traded up $0.19 during trading on Friday, hitting $103.27. The company had a trading volume of 7,070,016 shares, compared to its average volume of 2,191,819. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The firm has a market capitalization of $46.20 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The stock’s 50-day moving average price is $99.56 and its 200 day moving average price is $94.81. Phillips 66 has a one year low of $78.44 and a one year high of $119.14.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the previous year, the company posted $2.80 earnings per share. On average, research analysts anticipate that Phillips 66 will post 7.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, August 19th. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.
In related news, EVP Robert A. Herman sold 47,433 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. Raymond James boosted their price objective on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Macquarie assumed coverage on Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating for the company. Finally, Scotiabank assumed coverage on Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Phillips 66 currently has a consensus rating of “Buy” and an average price target of $115.55.
About Phillips 66
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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