Great West Life Assurance Co. Can raised its stake in shares of Phillips 66 (NYSE:PSX) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631,933 shares of the oil and gas company’s stock after buying an additional 13,063 shares during the period. Great West Life Assurance Co. Can owned approximately 0.12% of Phillips 66 worth $50,033,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. First Command Bank purchased a new position in shares of Phillips 66 during the fourth quarter valued at $102,000. Argentus Capital Management LLC raised its position in shares of Phillips 66 by 17.7% in the third quarter. Argentus Capital Management LLC now owns 1,579 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 237 shares during the period. Feltz Wealth PLAN Inc. raised its position in shares of Phillips 66 by 14.6% in the third quarter. Feltz Wealth PLAN Inc. now owns 1,598 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 204 shares during the period. Barrett Asset Management LLC raised its position in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 61 shares during the period. 70.01% of the stock is owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded up 2.35% during midday trading on Friday, hitting $80.94. The company had a trading volume of 4,870,857 shares. Phillips 66 has a 1-year low of $73.67 and a 1-year high of $88.87. The firm has a market capitalization of $41.77 billion, a P/E ratio of 25.11 and a beta of 1.27. The stock has a 50 day moving average price of $78.55 and a 200 day moving average price of $80.59.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.53. The firm had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $4.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were paid a $0.70 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, May 16th. Phillips 66’s dividend payout ratio (DPR) is currently 86.96%.
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PSX has been the topic of several recent research reports. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday. TheStreet downgraded Phillips 66 from a “b-” rating to a “c” rating in a research report on Monday, June 5th. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Piper Jaffray Companies restated an “overweight” rating and set a $88.00 target price on shares of Phillips 66 in a research report on Thursday, May 25th. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $85.25.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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