M&R Capital Management Inc. cut its stake in Phillips 66 (NYSE:PSX) by 16.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,275 shares of the oil and gas company’s stock after selling 665 shares during the period. M&R Capital Management Inc.’s holdings in Phillips 66 were worth $267,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Public Sector Pension Investment Board boosted its position in shares of Phillips 66 by 25.6% in the third quarter. Public Sector Pension Investment Board now owns 52,925 shares of the oil and gas company’s stock worth $2,744,000 after acquiring an additional 10,800 shares during the last quarter. First City Capital Management Inc. purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $206,000. Advisory Alpha LLC purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $39,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $219,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 in the third quarter worth $336,000. 64.56% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on PSX shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Phillips 66 from $81.00 to $99.00 and gave the stock a “buy” rating in a research note on Tuesday, March 23rd. Piper Sandler downgraded shares of Phillips 66 from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $85.00 in a report on Thursday, April 1st. They noted that the move was a valuation call. Cowen decreased their price objective on shares of Phillips 66 from $83.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, February 1st. Tudor Pickering downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, January 21st. Finally, Mizuho boosted their price target on shares of Phillips 66 from $70.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, March 4th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $82.53.
In other Phillips 66 news, CEO Greg C. Garland sold 158,500 shares of Phillips 66 stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $88.50, for a total transaction of $14,027,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.
NYSE PSX opened at $80.00 on Thursday. The stock’s 50-day moving average price is $83.92 and its two-hundred day moving average price is $67.98. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The company has a market cap of $35.03 billion, a PE ratio of -12.97, a PEG ratio of 3.65 and a beta of 1.67. Phillips 66 has a 1 year low of $43.27 and a 1 year high of $90.59.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Thursday, January 28th. The oil and gas company reported ($1.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.10). The company had revenue of $16.77 billion for the quarter, compared to analyst estimates of $15.88 billion. Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. During the same quarter in the previous year, the firm posted $1.54 EPS. Research analysts forecast that Phillips 66 will post -0.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Monday, February 22nd were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, February 19th. This represents a $3.60 annualized dividend and a yield of 4.50%. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
About Phillips 66
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 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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