State of Tennessee Treasury Department raised its stake in shares of Phillips 66 (NYSE:PSX) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 563,653 shares of the oil and gas company’s stock after acquiring an additional 61,372 shares during the period. State of Tennessee Treasury Department owned approximately 0.12% of Phillips 66 worth $53,643,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Private Advisor Group LLC grew its holdings in Phillips 66 by 2.4% during the 1st quarter. Private Advisor Group LLC now owns 22,884 shares of the oil and gas company’s stock valued at $2,178,000 after buying an additional 535 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Phillips 66 during the 1st quarter valued at $343,000. Resources Investment Advisors Inc. grew its holdings in Phillips 66 by 7.9% during the 1st quarter. Resources Investment Advisors Inc. now owns 28,234 shares of the oil and gas company’s stock valued at $2,691,000 after buying an additional 2,056 shares during the last quarter. Capital Advantage Inc. acquired a new stake in Phillips 66 during the 1st quarter valued at $203,000. Finally, Glassman Wealth Services grew its holdings in Phillips 66 by 32.6% during the 1st quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 116 shares during the last quarter. 70.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 stock traded up $1.79 during trading hours on Friday, hitting $93.54. 4,311,691 shares of the company’s stock traded hands, compared to its average volume of 2,735,440. The stock has a 50 day moving average of $85.82. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. The stock has a market cap of $41.94 billion, a P/E ratio of 7.99, a PEG ratio of 1.57 and a beta of 0.99. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97.
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.85%. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 30.74%.
In other news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on PSX. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley decreased their price objective on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a report on Friday, May 17th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and raised their price objective for the stock from $105.00 to $107.00 in a report on Monday, April 15th. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. Finally, Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Monday, April 29th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $118.73.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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