Citizens Financial Group Inc. RI Acquires 3,421 Shares of Phillips 66 $PSX

Citizens Financial Group Inc. RI increased its holdings in shares of Phillips 66 (NYSE:PSX) by 41.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,659 shares of the oil and gas company’s stock after purchasing an additional 3,421 shares during the period. Citizens Financial Group Inc. RI’s holdings in Phillips 66 were worth $2,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc boosted its stake in Phillips 66 by 113.5% during the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after buying an additional 8,783 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Phillips 66 by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after buying an additional 199,646 shares in the last quarter. Truist Financial Corp raised its stake in shares of Phillips 66 by 1.6% in the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after buying an additional 10,585 shares in the last quarter. Horizon Investments LLC lifted its holdings in shares of Phillips 66 by 478.4% during the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after acquiring an additional 52,348 shares during the period. Finally, Royal Fund Management LLC boosted its position in shares of Phillips 66 by 20.6% during the 4th quarter. Royal Fund Management LLC now owns 53,901 shares of the oil and gas company’s stock valued at $6,958,000 after acquiring an additional 9,214 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PSX. Piper Sandler upped their target price on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Citigroup upped their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company increased their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.89.

Phillips 66 Price Performance

NYSE:PSX opened at $198.00 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm has a market cap of $79.38 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $198.58. The company’s 50-day moving average price is $176.76 and its two-hundred day moving average price is $163.69.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the business posted ($0.90) earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Phillips 66 will post 19.3 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.6%. Phillips 66’s dividend payout ratio is 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,021 shares of company stock valued at $7,195,257 over the last ninety days. Insiders own 0.40% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.