Strategic Blueprint LLC lessened its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 24.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,219 shares of the oil and gas company’s stock after selling 725 shares during the period. Strategic Blueprint LLC’s holdings in Phillips 66 were worth $225,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bornite Capital Management LP acquired a new stake in shares of Phillips 66 in the first quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 5,012 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after acquiring an additional 788 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Phillips 66 by 61.9% in the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after acquiring an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Phillips 66 by 103.8% in the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after acquiring an additional 27,267 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.
Phillips 66 Stock Performance
Phillips 66 stock opened at $104.05 on Friday. The stock has a 50-day simple moving average of $96.35 and a 200 day simple moving average of $99.50. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. Phillips 66 has a 12-month low of $74.02 and a 12-month high of $113.53. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 4.02, a P/E/G ratio of 0.38 and a beta of 1.37.
Phillips 66 Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $1.05 dividend. The ex-dividend date is Thursday, August 17th. This represents a $4.20 dividend on an annualized basis and a yield of 4.04%. Phillips 66’s payout ratio is 16.24%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PSX. The Goldman Sachs Group lowered their price objective on shares of Phillips 66 from $124.00 to $119.00 in a research note on Friday, May 12th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $118.00 to $111.00 in a research note on Friday, June 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $125.00 price target on shares of Phillips 66 in a research note on Wednesday. Piper Sandler lifted their price target on shares of Phillips 66 from $127.00 to $130.00 in a research note on Friday, July 7th. Finally, TD Cowen upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $110.00 to $123.00 in a research note on Thursday, June 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.85.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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