Phillips 66 (NYSE:PSX) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 4.0% during the 1st quarter, Holdings Channel reports. The fund owned 41,271,077 shares of the oil and gas company’s stock after buying an additional 1,578,669 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Phillips 66 worth $6,741,218,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new stake in Phillips 66 in the 1st quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 in the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $28,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.6 %

Shares of NYSE:PSX traded up $0.77 during mid-day trading on Friday, hitting $138.47. 1,787,005 shares of the company traded hands, compared to its average volume of 2,415,453. The firm has a market cap of $58.70 billion, a P/E ratio of 10.65, a PEG ratio of 2.27 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52-week low of $103.12 and a 52-week high of $174.08. The firm’s 50 day simple moving average is $139.72 and its 200 day simple moving average is $145.29.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the business posted $4.21 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 10.06 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.32%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday. They set a “peer perform” rating for the company. Mizuho lowered their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. TD Cowen decreased their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, Barclays decreased their price objective on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.23.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.