Rodgers Brothers Inc. increased its stake in Phillips 66 (NYSE:PSX) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,487 shares of the oil and gas company’s stock after purchasing an additional 2,252 shares during the period. Rodgers Brothers Inc.’s holdings in Phillips 66 were worth $1,061,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PSX. Nationwide Fund Advisors increased its position in shares of Phillips 66 by 7.7% in the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after purchasing an additional 24,318 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Phillips 66 by 4.2% in the third quarter. Victory Capital Management Inc. now owns 126,467 shares of the oil and gas company’s stock worth $11,585,000 after purchasing an additional 5,057 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Phillips 66 in the third quarter worth approximately $5,569,000. Candriam Luxembourg S.C.A. increased its position in shares of Phillips 66 by 2.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 76,166 shares of the oil and gas company’s stock worth $6,978,000 after purchasing an additional 1,786 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Phillips 66 by 82.9% in the third quarter. Alps Advisors Inc. now owns 4,692 shares of the oil and gas company’s stock worth $430,000 after purchasing an additional 2,126 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.
Shares of Phillips 66 (PSX) opened at $94.55 on Wednesday. The firm has a market capitalization of $44,312.84, a P/E ratio of 9.52, a PEG ratio of 1.55 and a beta of 1.18. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, February 16th. Phillips 66’s dividend payout ratio is currently 28.20%.
Several research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a research report on Thursday, January 11th. Credit Suisse Group initiated coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price target on the stock. Barclays reiterated a “sell” rating and set a $111.00 price target on shares of Phillips 66 in a research report on Wednesday, January 10th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target on the stock in a research report on Monday, November 27th. Finally, US Capital Advisors cut shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $103.46.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares of the company’s stock, valued at $270,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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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