Tritonpoint Wealth LLC purchased a new stake in Phillips 66 (NYSE:PSX – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,038 shares of the oil and gas company’s stock, valued at approximately $252,000.
Several other hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC grew its position in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $25,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $27,000. Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in Phillips 66 during the 4th quarter valued at approximately $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Stock Performance
Phillips 66 stock opened at $122.20 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $49.79 billion, a P/E ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02. The stock’s 50 day moving average is $109.84 and its 200 day moving average is $117.35. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12.
Phillips 66 Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.93%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Tudor Pickering lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group decreased their target price on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $135.46.
Read Our Latest Research Report on PSX
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.
Read More
- Five stocks we like better than Phillips 66
- How to start investing in penny stocks
- RH Stock Rockets on Surprise Profit and Tariff Shift
- How to Profit From Value Investing
- Synopsys Stock Falls on China Ban, But Long-Term Outlook Holds
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Alphabet Enters a Bull Market: Is It Time to Buy?
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.