Yaupon Capital Management LP bought a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,904 shares of the oil and gas company’s stock, valued at approximately $2,891,000. Phillips 66 accounts for approximately 0.8% of Yaupon Capital Management LP’s portfolio, making the stock its 24th largest holding.
A number of other large investors have also recently added to or reduced their stakes in PSX. Nuveen Asset Management LLC grew its holdings in Phillips 66 by 3,861.0% during the second quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock worth $350,288,000 after acquiring an additional 3,650,256 shares during the period. Wells Fargo & Company MN increased its stake in Phillips 66 by 19.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock worth $1,016,170,000 after purchasing an additional 1,790,537 shares in the last quarter. AQR Capital Management LLC increased its stake in Phillips 66 by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock worth $315,479,000 after purchasing an additional 1,181,277 shares in the last quarter. Vanguard Group Inc. increased its stake in Phillips 66 by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock worth $3,409,691,000 after purchasing an additional 1,172,468 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Phillips 66 by 126.5% in the 2nd quarter. First Trust Advisors LP now owns 1,421,214 shares of the oil and gas company’s stock worth $132,940,000 after purchasing an additional 793,875 shares in the last quarter. 68.71% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PSX traded down $0.64 on Tuesday, hitting $103.62. 2,515,187 shares of the company’s stock traded hands, compared to its average volume of 2,467,038. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $119.14. The firm has a 50-day moving average price of $99.76 and a 200-day moving average price of $94.90. The company has a market cap of $46.27 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.90 per share. The ex-dividend date was Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
A number of brokerages recently weighed in on PSX. Scotiabank began coverage on Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Raymond James lifted their price target on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Macquarie began coverage on Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating on the stock. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $115.55.
Phillips 66 Company Profile
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 products to market; provides terminaling and storage services for crude oil and 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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