IHT Wealth Management LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,886 shares of the oil and gas company’s stock, valued at approximately $297,000.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Phillips 66 by 3.3% in the second quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock valued at $3,409,691,000 after purchasing an additional 1,172,468 shares in the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 4.9% during the third quarter. State Street Corp now owns 22,727,392 shares of the oil and gas company’s stock worth $2,327,285,000 after purchasing an additional 1,064,558 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 19.7% during the second 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. JPMorgan Chase & Co. grew its holdings in shares of Phillips 66 by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,882,918 shares of the oil and gas company’s stock valued at $448,008,000 after buying an additional 463,870 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Phillips 66 by 2.4% in the 2nd quarter. LSV Asset Management now owns 4,701,505 shares of the oil and gas company’s stock valued at $439,778,000 after buying an additional 112,310 shares during the period. Institutional investors own 68.42% of the company’s stock.
Shares of NYSE PSX opened at $114.33 on Tuesday. The company has a fifty day moving average price of $114.91 and a 200 day moving average price of $100.68. The firm has a market cap of $51.18 billion, a PE ratio of 9.76, a PEG ratio of 2.01 and a beta of 1.11. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.92.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.15%. Phillips 66’s payout ratio is presently 30.74%.
Several brokerages recently commented on PSX. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Scotiabank initiated coverage on Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating for the company. Wells Fargo & Co increased their price target on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Evercore ISI started coverage on Phillips 66 in a report on Wednesday, October 2nd. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and an average target price of $119.80.
In other news, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total transaction of $55,461.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
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 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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