Koshinski Asset Management Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,236 shares of the oil and gas company’s stock after buying an additional 1,095 shares during the period. Koshinski Asset Management Inc.’s holdings in Phillips 66 were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. bought a new position in shares of Phillips 66 in the fourth quarter valued at $28,000. Efficient Wealth Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $28,000. Prestige Wealth Management Group LLC lifted its position in shares of Phillips 66 by 179.5% during the first quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 359 shares in the last quarter. Harwood Advisory Group LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $36,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Phillips 66 by 825.0% during the first quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 627 shares in the last quarter. 66.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a report on Wednesday, May 27th. ValuEngine upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Morgan Stanley lowered their price objective on shares of Phillips 66 from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $77.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Monday, July 20th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Phillips 66 currently has an average rating of “Buy” and an average price target of $83.47.
NYSE:PSX opened at $62.02 on Friday. The firm’s 50-day moving average price is $67.98 and its 200-day moving average price is $73.22. The company has a market capitalization of $27.55 billion, a PE ratio of 7.26, a P/E/G ratio of 6.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.61. Phillips 66 has a 1-year low of $40.04 and a 1-year high of $119.92.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same quarter in the previous year, the company earned $3.02 earnings per share. Equities analysts anticipate that Phillips 66 will post 1.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Monday, August 17th. Phillips 66’s dividend payout ratio is presently 44.72%.
Phillips 66 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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