Cushing Asset Management LP increased its position in Phillips 66 (NYSE:PSX) by 182.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,823 shares of the oil and gas company’s stock after acquiring an additional 165,388 shares during the period. Cushing Asset Management LP owned about 0.05% of Phillips 66 worth $25,876,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV bought a new stake in Phillips 66 during the fourth quarter valued at about $102,000. FTB Advisors Inc. grew its holdings in Phillips 66 by 112.9% during the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 780 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in Phillips 66 during the third quarter valued at about $141,000. First Dallas Securities Inc. bought a new stake in Phillips 66 during the fourth quarter valued at about $143,000. Finally, Truewealth LLC bought a new stake in Phillips 66 during the fourth quarter valued at about $151,000. 77.87% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) opened at $94.55 on Wednesday. The firm has a market capitalization of $44,312.84, a PE ratio of 9.52, a PEG ratio of 1.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.09. Phillips 66 has a one year low of $75.14 and a one year high of $107.47.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is 28.20%.
Several research firms have issued reports on PSX. Barclays reissued a “sell” rating and set a $111.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Scotiabank reissued a “buy” rating and set a $112.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating and set a $106.00 price target on shares of Phillips 66 in a report on Tuesday, January 30th. Citigroup boosted their price target on Phillips 66 from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Vetr lowered Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price target for the company. in a report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $103.46.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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