SG Americas Securities LLC Purchases 7,636 Shares of Phillips 66 (NYSE:PSX)

Posted by Defense World Staff on Apr 28th, 2023

SG Americas Securities LLC grew its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 226.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,011 shares of the oil and gas company’s stock after purchasing an additional 7,636 shares during the quarter. SG Americas Securities LLC’s holdings in Phillips 66 were worth $1,146,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Phillips 66 by 1.9% during the third quarter. Vanguard Group Inc. now owns 50,644,106 shares of the oil and gas company’s stock valued at $4,087,993,000 after acquiring an additional 966,125 shares during the last quarter. State Street Corp grew its holdings in shares of Phillips 66 by 1.1% during the 3rd quarter. State Street Corp now owns 33,013,657 shares of the oil and gas company’s stock valued at $2,664,862,000 after purchasing an additional 345,132 shares during the last quarter. Wellington Management Group LLP raised its position in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after purchasing an additional 2,753,700 shares during the period. Northern Trust Corp lifted its stake in Phillips 66 by 4.0% in the first quarter. Northern Trust Corp now owns 5,014,505 shares of the oil and gas company’s stock worth $433,203,000 after purchasing an additional 192,451 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Phillips 66 by 19.6% during the first quarter. Invesco Ltd. now owns 3,498,545 shares of the oil and gas company’s stock valued at $302,240,000 after buying an additional 574,435 shares during the period. 70.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PSX shares. StockNews.com downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Mizuho reiterated a “neutral” rating and issued a $120.00 price objective on shares of Phillips 66 in a research report on Tuesday, April 11th. Morgan Stanley raised their target price on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, January 20th. Raymond James upped their price target on shares of Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Finally, Royal Bank of Canada raised their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $123.64.

Insider Buying and Selling

In other Phillips 66 news, Director Gregory Hayes bought 10,250 shares of the stock in a transaction dated Thursday, February 2nd. The stock was purchased at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the acquisition, the director now owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.57% of the stock is currently owned by insiders.

Phillips 66 Stock Down 1.5 %

PSX stock opened at $97.74 on Friday. The company has a market capitalization of $45.34 billion, a price-to-earnings ratio of 4.26, a price-to-earnings-growth ratio of 0.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The business’s 50 day moving average price is $100.76 and its two-hundred day moving average price is $102.58. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $113.53.

Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). The firm had revenue of $40.91 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. During the same quarter last year, the company posted $2.94 EPS. As a group, analysts forecast that Phillips 66 will post 15.93 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. This represents a $4.20 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Friday, February 17th. Phillips 66’s dividend payout ratio (DPR) is 18.30%.

Phillips 66 Company Profile

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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.