Dynamic Technology Lab Private Ltd purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,606 shares of the oil and gas company’s stock, valued at approximately $343,000.
A number of other hedge funds have also recently made changes to their positions in PSX. Oregon Public Employees Retirement Fund lifted its holdings in Phillips 66 by 3,775.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,527,183 shares during the last quarter. Norges Bank bought a new position in Phillips 66 during the 4th quarter valued at about $386,757,000. LSV Asset Management lifted its holdings in Phillips 66 by 43.3% during the 1st quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock valued at $436,753,000 after purchasing an additional 1,387,767 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Phillips 66 by 7.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after purchasing an additional 958,545 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in Phillips 66 by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after purchasing an additional 885,979 shares during the last quarter. 70.12% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.
Shares of NYSE PSX opened at $85.59 on Friday. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The stock has a market capitalization of $38.82 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 1.40 and a beta of 0.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 7.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.21%. Phillips 66’s payout ratio is currently 30.74%.
PSX has been the subject of several analyst reports. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a report on Monday, April 29th. They noted that the move was a valuation call. Morgan Stanley cut their price target on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their price target for the company from $105.00 to $107.00 in a report on Monday, April 15th. Citigroup boosted their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $118.73.
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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; 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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