Man Group plc increased its holdings in shares of Phillips 66 (NYSE:PSX) by 220.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,860 shares of the oil and gas company’s stock after purchasing an additional 229,807 shares during the quarter. Man Group plc owned approximately 0.08% of Phillips 66 worth $37,195,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in PSX. Allred Capital Management LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. Lighthouse Financial Advisors Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Savior LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $32,000. JFS Wealth Advisors LLC raised its stake in shares of Phillips 66 by 56.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Firestone Capital Management purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $35,000. Institutional investors own 69.99% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Raymond James lowered their target price on Phillips 66 from $110.00 to $69.00 and set an “outperform” rating on the stock in a report on Tuesday. They noted that the move was a valuation call. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. Barclays assumed coverage on Phillips 66 in a research note on Tuesday, January 14th. They set an “overweight” rating and a $122.00 price target for the company. Finally, Citigroup decreased their price objective on shares of Phillips 66 from $135.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $95.43.
In other Phillips 66 news, Director John E. Lowe purchased 1,000 shares of Phillips 66 stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $74.93 per share, with a total value of $74,930.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.
Shares of NYSE PSX opened at $50.50 on Thursday. The firm has a market cap of $20.03 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.24. Phillips 66 has a 1 year low of $40.04 and a 1 year high of $119.92. The firm’s 50 day moving average price is $73.08 and its 200 day moving average price is $99.70.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Phillips 66 had a return on equity of 13.51% and a net margin of 2.81%. The company had revenue of $29.61 billion for the quarter, compared to analyst estimates of $27.30 billion. During the same quarter in the prior year, the company posted $4.87 EPS. As a group, equities analysts predict that Phillips 66 will post 7.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 7.13%. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
Phillips 66 Company 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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