Sustainable Insight Capital Management LLC Takes Position in Phillips 66 (PSX)
Sustainable Insight Capital Management LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the first quarter, HoldingsChannel.com reports. The firm bought 2,781 shares of the oil and gas company’s stock, valued at approximately $265,000.
Other institutional investors have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. boosted its stake in shares of Phillips 66 by 2.5% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 104 shares during the period. Torray LLC lifted its stake in Phillips 66 by 0.6% during the fourth quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock worth $1,461,000 after purchasing an additional 106 shares during the last quarter. Pflug Koory LLC lifted its stake in Phillips 66 by 3.2% during the fourth quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 110 shares during the last quarter. First Foundation Advisors lifted its stake in Phillips 66 by 2.1% during the fourth quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 112 shares during the last quarter. Finally, Deane Retirement Strategies Inc. lifted its stake in Phillips 66 by 0.6% during the first quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.
Several equities research analysts recently weighed in on PSX shares. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Argus decreased their target price on Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Citigroup boosted their target price on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and boosted their target price for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. Finally, ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $119.42.
PSX traded up $0.02 during trading on Monday, hitting $84.83. 33,745 shares of the stock were exchanged, compared to its average volume of 2,733,965. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $23.66 billion for the quarter, compared to analyst estimates of $24.66 billion. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities analysts expect that Phillips 66 will post 7.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.90 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.60 annualized dividend and a yield of 4.24%. Phillips 66’s payout ratio is 27.33%.
About Phillips 66
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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