Insight Folios Inc acquired a new position in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,011 shares of the oil and gas company’s stock, valued at approximately $258,000.
Several other institutional investors also recently modified their holdings of the company. Samalin Investment Counsel LLC grew its position in Phillips 66 by 5.2% in the 1st quarter. Samalin Investment Counsel LLC now owns 2,550 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 127 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its position in shares of Phillips 66 by 3.0% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,338 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 128 shares in the last quarter. Strategy Asset Managers LLC lifted its position in shares of Phillips 66 by 4.1% in the 1st quarter. Strategy Asset Managers LLC now owns 3,653 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 143 shares in the last quarter. Fiera Capital Corp lifted its position in Phillips 66 by 0.4% in the 1st quarter. Fiera Capital Corp now owns 39,023 shares of the oil and gas company’s stock worth $3,182,000 after buying an additional 150 shares in the last quarter. Finally, Altfest L J & Co. Inc. lifted its position in Phillips 66 by 2.9% in the 1st quarter. Altfest L J & Co. Inc. now owns 5,379 shares of the oil and gas company’s stock worth $439,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.
Shares of NYSE PSX traded up $1.78 during midday trading on Monday, hitting $75.21. 48,764 shares of the company’s stock were exchanged, compared to its average volume of 2,882,896. Phillips 66 has a 12-month low of $43.27 and a 12-month high of $94.34. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $32.93 billion, a P/E ratio of -15.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.70. The firm has a fifty day moving average price of $83.73.
Phillips 66 (NYSE:PSX) last announced its earnings results on Thursday, April 29th. The oil and gas company reported ($1.16) EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.24. The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $16.57 billion. Phillips 66 had a negative return on equity of 6.12% and a negative net margin of 3.22%. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 2.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Wednesday, August 18th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Tuesday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently -404.49%.
A number of research firms have recently commented on PSX. Citigroup reduced their price objective on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 9th. dropped their price target on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 9th. Barclays decreased their price target on shares of Phillips 66 from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, July 8th. cut their price objective on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 9th. Finally, Credit Suisse Group increased their target price on shares of Phillips 66 from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.24.
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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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