Phillips 66 (NYSE:PSX) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its stake in shares of Phillips 66 (NYSE:PSX) by 518.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,021 shares of the oil and gas company’s stock after purchasing an additional 152,577 shares during the period. 1832 Asset Management L.P.’s holdings in Phillips 66 were worth $29,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter worth approximately $559,435,000. Boston Partners grew its stake in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after buying an additional 3,494,878 shares during the period. Bank of New York Mellon Corp grew its stake in Phillips 66 by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after buying an additional 2,209,043 shares during the period. International Assets Investment Management LLC purchased a new stake in Phillips 66 during the fourth quarter worth approximately $254,336,000. Finally, Wellington Management Group LLP grew its stake in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.2 %

NYSE PSX traded down $0.30 during trading hours on Friday, reaching $142.21. 1,813,784 shares of the company traded hands, compared to its average volume of 2,186,005. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $60.29 billion, a PE ratio of 10.94, a PEG ratio of 2.36 and a beta of 1.34. The company has a 50 day moving average of $139.14 and a two-hundred day moving average of $145.47.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate 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 last year, the company earned $4.21 earnings per share. As a group, equities analysts expect that Phillips 66 will post 10.06 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced 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 is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.23%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were 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 of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Raymond James decreased their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Finally, Argus restated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.23.

Phillips 66 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.