OLD National Bancorp IN decreased its position in shares of Phillips 66 (NYSE:PSX) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,328 shares of the oil and gas company’s stock after selling 298 shares during the quarter. OLD National Bancorp IN’s holdings in Phillips 66 were worth $412,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in PSX. Winslow Evans & Crocker Inc. increased its holdings in shares of Phillips 66 by 2.5% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock worth $400,000 after buying an additional 104 shares during the last quarter. Torray LLC increased its holdings in shares of Phillips 66 by 0.6% during the 4th quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock worth $1,461,000 after buying an additional 106 shares during the last quarter. Pflug Koory LLC increased its holdings in shares of Phillips 66 by 3.2% during the 4th quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock worth $309,000 after buying an additional 110 shares during the last quarter. Coastline Trust Co increased its holdings in shares of Phillips 66 by 0.7% during the 4th quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock worth $1,395,000 after buying an additional 111 shares during the last quarter. Finally, First Foundation Advisors increased its holdings in shares of Phillips 66 by 2.1% during the 4th quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock worth $462,000 after buying an additional 112 shares during the last quarter. 70.08% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PSX traded up $0.62 on Friday, reaching $85.52. The stock had a trading volume of 2,381,862 shares, compared to its average volume of 2,677,323. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market cap of $38.47 billion, a P/E ratio of 7.30, a PEG ratio of 1.36 and a beta of 0.99. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $123.97.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $0.90 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is presently 30.74%.
In related news, Director John E. Lowe purchased 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $82.91 per share, with a total value of $165,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.
A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. ValuEngine upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Friday, May 17th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a report on Monday, April 29th. They noted that the move was a valuation call. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the company from $105.00 to $107.00 in a report on Monday, April 15th. Finally, Citigroup increased their price target on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $118.73.
Phillips 66 Company 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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