Several other large investors have also recently bought and sold shares of PSX. Bornite Capital Management LP bought a new stake in Phillips 66 in the first quarter valued at approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 5,012 shares in the last quarter. Synovus Financial Corp increased its position in shares of Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after acquiring an additional 788 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after acquiring an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after acquiring an additional 27,267 shares in the last quarter. Institutional investors own 70.76% of the company’s stock.
Phillips 66 Stock Performance
Shares of PSX stock opened at $99.54 on Friday. The stock has a market cap of $47.05 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.06. The company has a fifty day moving average price of $103.36 and a two-hundred day moving average price of $97.71. Phillips 66 has a one year low of $73.85 and a one year high of $113.53.
Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). The firm had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 33.38%. During the same quarter in the prior year, the business earned $2.94 EPS. As a group, equities analysts predict that Phillips 66 will post 15.25 EPS for the current year.
Phillips 66 Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 21st will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, February 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is currently 16.91%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PSX. Mizuho reissued a “neutral” rating and set a $121.00 price objective (up previously from $115.00) on shares of Phillips 66 in a research report on Tuesday, January 10th. The Goldman Sachs Group increased their price objective on shares of Phillips 66 to $123.00 in a research report on Wednesday, November 16th. Morgan Stanley increased their target price on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, January 20th. Royal Bank of Canada increased their target price on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Finally, Raymond James increased their target price on shares of Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $120.07.
Insider Transactions at Phillips 66
In related news, Director Gregory Hayes bought 10,250 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was bought at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the purchase, the director now owns 14,299 shares in the company, valued at approximately $1,397,727.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.
About Phillips 66
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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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