Sciencast Management LP lowered its stake in Phillips 66 (NYSE:PSX) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,398 shares of the oil and gas company’s stock after selling 646 shares during the quarter. Sciencast Management LP’s holdings in Phillips 66 were worth $690,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Bruderman Asset Management LLC purchased a new stake in Phillips 66 in the first quarter worth approximately $105,000. Centaurus Financial Inc. purchased a new stake in Phillips 66 in the first quarter worth approximately $107,000. Pin Oak Investment Advisors Inc. purchased a new stake in Phillips 66 in the fourth quarter worth approximately $119,000. Compagnie Lombard Odier SCmA boosted its holdings in Phillips 66 by 286.6% in the first quarter. Compagnie Lombard Odier SCmA now owns 1,268 shares of the oil and gas company’s stock worth $122,000 after purchasing an additional 940 shares during the last quarter. Finally, Well Done LLC purchased a new stake in Phillips 66 in the first quarter worth approximately $143,000. Institutional investors own 69.27% of the company’s stock.
Several brokerages recently issued reports on PSX. Barclays raised their target price on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, April 30th. Argus lifted their price target on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $108.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, April 9th. Deutsche Bank dropped their price target on shares of Phillips 66 from $106.00 to $102.00 and set a “hold” rating on the stock in a research note on Monday, March 19th. Finally, Citigroup lifted their price target on shares of Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $108.25.
In other news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $120.00, for a total transaction of $828,000.00. Following the sale, the vice president now directly owns 8,177 shares in the company, valued at approximately $981,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.
Shares of PSX stock opened at $114.30 on Friday. The firm has a market cap of $53.83 billion, a PE ratio of 26.10, a PEG ratio of 1.87 and a beta of 1.06. Phillips 66 has a one year low of $78.63 and a one year high of $122.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.31.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.13. The firm had revenue of $24.05 billion for the quarter, compared to the consensus estimate of $29.23 billion. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. During the same period last year, the firm earned $0.56 EPS. equities analysts forecast that Phillips 66 will post 7.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 21st were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.80%. This is an increase from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
Phillips 66 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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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