Pitcairn Co. cut its holdings in shares of Phillips 66 (NYSE:PSX) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,007 shares of the oil and gas company’s stock after selling 253 shares during the period. Pitcairn Co.’s holdings in Phillips 66 were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Total Clarity Wealth Management Inc. bought a new position in Phillips 66 during the fourth quarter worth about $28,000. Efficient Wealth Management LLC bought a new position in Phillips 66 during the first quarter worth about $28,000. Prestige Wealth Management Group LLC lifted its holdings in Phillips 66 by 179.5% during the first quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Harwood Advisory Group LLC bought a new position in Phillips 66 during the first quarter worth about $36,000. Finally, Altshuler Shaham Ltd lifted its holdings in Phillips 66 by 825.0% during the first quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 66.79% of the company’s stock.
A number of analysts have recently commented on PSX shares. Piper Sandler cut their price target on Phillips 66 from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Zacks Investment Research upgraded Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 price target on the stock in a report on Wednesday, May 27th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Citigroup cut their price target on Phillips 66 from $103.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Monday, April 20th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.47.
PSX opened at $62.02 on Friday. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The firm has a market capitalization of $27.55 billion, a PE ratio of 7.26, a PEG ratio of 6.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. The business’s 50-day simple moving average is $67.98 and its 200 day simple moving average is $73.22.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same period in the prior year, the business posted $3.02 EPS. On average, research analysts forecast that Phillips 66 will post 1.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Monday, August 17th. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
In other Phillips 66 news, Director Gary Kramer Adams purchased 1,250 shares of the stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $76.40 per share, with a total value of $95,500.00. Following the completion of the transaction, the director now directly owns 10,213 shares in the company, valued at $780,273.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe purchased 1,500 shares of the stock in a transaction on Friday, June 26th. The shares were acquired at an average cost of $68.43 per share, for a total transaction of $102,645.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,750 shares of company stock worth $268,305. Company insiders own 0.63% of the company’s stock.
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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