Regent Investment Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 12.2% during the second quarter, Holdings Channel.com reports. The fund owned 7,470 shares of the oil and gas company’s stock after acquiring an additional 812 shares during the period. Regent Investment Management LLC’s holdings in Phillips 66 were worth $537,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of PSX. Marshall Wace LLP bought a new stake in Phillips 66 in the 4th quarter valued at about $119,000. Sunbelt Securities Inc. lifted its stake in Phillips 66 by 7.4% in the fourth quarter. Sunbelt Securities Inc. now owns 26,161 shares of the oil and gas company’s stock valued at $2,664,000 after purchasing an additional 1,803 shares during the last quarter. Pearl River Capital LLC lifted its stake in Phillips 66 by 13.1% in the fourth quarter. Pearl River Capital LLC now owns 2,761 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 319 shares during the last quarter. Verus Capital Partners LLC bought a new stake in Phillips 66 during the 4th quarter valued at $62,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in Phillips 66 during the 4th quarter valued at $28,000. 66.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John E. Lowe purchased 1,500 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of $68.43 per share, with a total value of $102,645.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Kramer Adams purchased 1,250 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the completion of the acquisition, the director now directly owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders bought a total of 3,750 shares of company stock worth $268,305 over the last ninety days. Insiders own 0.63% of the company’s stock.
Shares of Phillips 66 stock opened at $62.02 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.61 and a debt-to-equity ratio of 0.45. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $119.92. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 6.53 and a beta of 1.60. The firm’s 50 day simple moving average is $67.98 and its two-hundred day simple moving average is $73.22.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same quarter last year, the business posted $3.02 EPS. On average, sell-side analysts predict that Phillips 66 will post 1.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently 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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