Catalyst Capital Advisors LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 1,858.7% in the first quarter, Holdings Channel reports. The fund owned 16,708 shares of the oil and gas company’s stock after purchasing an additional 15,855 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Phillips 66 were worth $1,603,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Prudential Financial Inc. raised its position in Phillips 66 by 106.2% in the 1st quarter. Prudential Financial Inc. now owns 1,308,086 shares of the oil and gas company’s stock worth $125,471,000 after purchasing an additional 673,671 shares during the period. Bahl & Gaynor Inc. raised its position in Phillips 66 by 1,141.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 491,923 shares of the oil and gas company’s stock worth $47,185,000 after purchasing an additional 452,306 shares during the period. Mackenzie Financial Corp purchased a new stake in Phillips 66 in the 4th quarter worth about $37,580,000. Millennium Management LLC raised its position in Phillips 66 by 107.2% in the 1st quarter. Millennium Management LLC now owns 704,972 shares of the oil and gas company’s stock worth $67,621,000 after purchasing an additional 364,782 shares during the period. Finally, Tortoise Capital Advisors L.L.C. raised its position in Phillips 66 by 3,264.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 368,528 shares of the oil and gas company’s stock worth $19,322,000 after purchasing an additional 357,575 shares during the period. 69.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 opened at $114.59 on Thursday, Marketbeat.com reports. The company has a market cap of $53.54 billion, a PE ratio of 26.16, a P/E/G ratio of 1.86 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 issued its earnings results on Friday, April 27th. The oil and gas company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The business had revenue of $24.05 billion for the quarter, compared to analyst estimates 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 company posted $0.56 earnings per share. sell-side analysts anticipate that Phillips 66 will post 7.27 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date was Friday, May 18th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.79%. Phillips 66’s dividend payout ratio (DPR) is 73.06%.
In other news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 8,177 shares of the company’s stock, valued at $981,240. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.
A number of research firms recently weighed in on PSX. Credit Suisse Group increased their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. Barclays increased their price objective on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, April 30th. Citigroup increased their price objective on shares of Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 13th. Finally, Argus increased their price objective on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $108.25.
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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