Global Retirement Partners LLC raised its position in Phillips 66 (NYSE:PSX – Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,984 shares of the oil and gas company’s stock after acquiring an additional 218 shares during the period. Global Retirement Partners LLC’s holdings in Phillips 66 were worth $190,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PSX. OLD Second National Bank of Aurora acquired a new stake in shares of Phillips 66 in the 4th quarter worth $26,000. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth $32,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $33,000. Achmea Investment Management B.V. acquired a new stake in shares of Phillips 66 in the first quarter valued at about $40,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 77.52% of the company’s stock.
Insider Activity at Phillips 66
In other Phillips 66 news, Chairman Greg C. Garland sold 169,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $111.44, for a total transaction of $18,877,936.00. Following the completion of the sale, the chairman now directly owns 662,366 shares in the company, valued at $73,814,067.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Phillips 66 news, EVP Brian Mandell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $111.84, for a total transaction of $335,520.00. Following the completion of the sale, the executive vice president now directly owns 46,451 shares in the company, valued at $5,195,079.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Greg C. Garland sold 169,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $111.44, for a total transaction of $18,877,936.00. Following the sale, the chairman now owns 662,366 shares of the company’s stock, valued at $73,814,067.04. The disclosure for this sale can be found here. 4.57% of the stock is owned by insiders.
Phillips 66 Stock Performance
Phillips 66 (NYSE:PSX – Get Free Report) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.33. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. The firm had revenue of $35.74 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 14.6 earnings per share for the current year.
Phillips 66 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued 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 3.66%. Phillips 66’s payout ratio is 18.22%.
Analyst Ratings Changes
PSX has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. The Goldman Sachs Group reduced their price objective on shares of Phillips 66 from $124.00 to $119.00 in a research note on Friday, May 12th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Mizuho lifted their target price on shares of Phillips 66 from $106.00 to $118.00 in a research report on Monday, July 10th. Finally, TD Cowen upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $123.00 in a research report on Thursday, June 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $124.77.
View Our Latest Research Report on PSX
Phillips 66 Company 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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