Capital Advisors Inc. OK raised its stake in shares of Phillips 66 (NYSE:PSX) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,621 shares of the oil and gas company’s stock after acquiring an additional 825 shares during the period. Capital Advisors Inc. OK’s holdings in Phillips 66 were worth $770,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. State Street Corp increased its position in shares of Phillips 66 by 7.7% during the 1st quarter. State Street Corp now owns 24,392,064 shares of the oil and gas company’s stock valued at $1,308,634,000 after purchasing an additional 1,749,706 shares during the last quarter. Bank of Montreal Can increased its position in shares of Phillips 66 by 145.7% during the 2nd quarter. Bank of Montreal Can now owns 1,892,401 shares of the oil and gas company’s stock valued at $111,614,000 after purchasing an additional 1,122,225 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Phillips 66 by 60.6% during the 1st quarter. APG Asset Management N.V. now owns 2,612,596 shares of the oil and gas company’s stock valued at $221,437,000 after purchasing an additional 985,864 shares during the last quarter. Eaton Vance Management increased its position in shares of Phillips 66 by 35.6% during the 1st quarter. Eaton Vance Management now owns 3,035,849 shares of the oil and gas company’s stock valued at $164,360,000 after purchasing an additional 797,159 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Phillips 66 by 80.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,600,283 shares of the oil and gas company’s stock valued at $115,042,000 after purchasing an additional 714,717 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
NYSE:PSX traded up $2.46 during mid-day trading on Wednesday, reaching $60.51. The stock had a trading volume of 5,305,920 shares, compared to its average volume of 3,824,583. The firm has a 50 day moving average price of $61.19 and a two-hundred day moving average price of $65.41. The stock has a market capitalization of $25.35 billion, a P/E ratio of -22.04, a P/E/G ratio of 12.98 and a beta of 1.51. Phillips 66 has a one year low of $40.04 and a one year high of $119.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.25.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.60 dividend on an annualized basis and a yield of 5.95%. Phillips 66’s payout ratio is 44.72%.
In other news, Director John E. Lowe bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $61.45 per share, for a total transaction of $92,175.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 5,000 shares of company stock valued at $325,600 in the last 90 days. 0.63% of the stock is currently owned by corporate insiders.
PSX has been the subject of several research analyst reports. Bank of America reaffirmed a “buy” rating and set a $100.00 target price on shares of Phillips 66 in a research report on Monday, August 3rd. Morgan Stanley decreased their price objective on Phillips 66 from $90.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Piper Sandler decreased their price objective on Phillips 66 from $87.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Scotiabank decreased their price objective on Phillips 66 from $90.00 to $79.00 and set a “sector outperform” rating for the company in a report on Monday, July 13th. Finally, Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 target price for the company in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Phillips 66 presently has an average rating of “Buy” and a consensus target price of $80.00.
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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