Cambridge Investment Research Advisors Inc. lessened its position in Phillips 66 (NYSE:PSX) by 43.8% in the first quarter, HoldingsChannel.com reports. The fund owned 68,929 shares of the oil and gas company’s stock after selling 53,624 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Phillips 66 were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Acima Private Wealth LLC boosted its holdings in shares of Phillips 66 by 2.8% during the fourth quarter. Acima Private Wealth LLC now owns 3,643 shares of the oil and gas company’s stock worth $406,000 after acquiring an additional 100 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Phillips 66 by 56.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Advisory Alpha LLC boosted its stake in Phillips 66 by 18.0% in the 4th quarter. Advisory Alpha LLC now owns 800 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 122 shares during the period. HCR Wealth Advisors grew its holdings in Phillips 66 by 4.3% in the 4th quarter. HCR Wealth Advisors now owns 3,025 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 125 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its position in Phillips 66 by 0.7% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 19,218 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 125 shares during the period. Institutional investors own 69.03% of the company’s stock.
Phillips 66 stock opened at $76.46 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market cap of $33.66 billion, a PE ratio of 112.44, a P/E/G ratio of 6.26 and a beta of 1.59. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $119.92. The business’s 50-day moving average price is $64.94 and its two-hundred day moving average price is $88.00.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.90 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.60 dividend on an annualized basis and a yield of 4.71%. Phillips 66’s dividend payout ratio is currently 44.72%.
In other news, Director Gary Kramer Adams bought 1,250 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the completion of the transaction, the director now owns 10,213 shares of the company’s stock, valued at $780,273.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $76.71 per share, for a total transaction of $153,420.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,250 shares of company stock worth $323,850. Insiders own 0.63% of the company’s stock.
PSX has been the subject of several analyst reports. Barclays reiterated a “buy” rating and issued a $94.00 price objective on shares of Phillips 66 in a research note on Wednesday, April 8th. Wolfe Research downgraded shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target for the company. in a research report on Wednesday, May 13th. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating and cut their price target for the company from $110.00 to $73.00 in a research note on Thursday, March 26th. Raymond James raised their price objective on Phillips 66 from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. upped their target price on Phillips 66 from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $89.00.
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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