Advisory Resource Group acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 317,305 shares of the oil and gas company’s stock, valued at approximately $27,231,000. Phillips 66 comprises approximately 10.9% of Advisory Resource Group’s holdings, making the stock its 2nd largest position. Advisory Resource Group owned approximately 0.07% of Phillips 66 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi purchased a new stake in shares of Phillips 66 in the second quarter valued at about $209,334,000. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 17.5% in the second quarter. Geode Capital Management LLC now owns 7,459,489 shares of the oil and gas company’s stock valued at $638,329,000 after purchasing an additional 1,109,917 shares during the last quarter. BlackRock Inc. increased its holdings in Phillips 66 by 1.9% during the second quarter. BlackRock Inc. now owns 34,064,275 shares of the oil and gas company’s stock worth $2,923,398,000 after buying an additional 649,223 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Phillips 66 by 568.2% during the second quarter. Macquarie Group Ltd. now owns 600,629 shares of the oil and gas company’s stock worth $51,546,000 after buying an additional 510,748 shares during the last quarter. Finally, State Street Corp increased its holdings in Phillips 66 by 1.7% during the second quarter. State Street Corp now owns 29,583,596 shares of the oil and gas company’s stock worth $2,538,864,000 after buying an additional 501,467 shares during the last quarter. Hedge funds and other institutional investors own 69.06% of the company’s stock.
Phillips 66 stock traded up $0.13 during mid-day trading on Thursday, hitting $82.00. 35,466 shares of the company traded hands, compared to its average volume of 2,969,971. Phillips 66 has a one year low of $43.27 and a one year high of $94.34. The stock has a market cap of $35.92 billion, a price-to-earnings ratio of -21.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 1.08. The stock has a fifty day moving average price of $71.22 and a 200-day moving average price of $78.56.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 17th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, November 16th. This is an increase from Phillips 66’s previous quarterly dividend of $0.88. This represents a $3.68 annualized dividend and a dividend yield of 4.49%. Phillips 66’s dividend payout ratio (DPR) is -404.49%.
PSX has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of Phillips 66 from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, July 8th. Morgan Stanley assumed coverage on shares of Phillips 66 in a report on Tuesday, September 7th. They set an “equal weight” rating and a $80.00 price objective for the company. cut their target price on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 9th. cut their target price on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 9th. Finally, Piper Sandler upgraded shares of Phillips 66 from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $87.00 in a research report on Wednesday, October 6th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $84.63.
About Phillips 66
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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