IFG Advisory LLC Buys Shares of 9338 Phillips 66 (PSX)

//IFG Advisory LLC Buys Shares of 9338 Phillips 66 (PSX)

IFG Advisory LLC Buys Shares of 9338 Phillips 66 (PSX)

IFG Advisory LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,338 shares of the oil and gas company’s stock, valued at approximately $408,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Phillips 66 in the fourth quarter worth $102,000. Bruderman Asset Management LLC bought a new stake in shares of Phillips 66 in the second quarter worth $112,000. Ffcm LLC bought a new stake in shares of Phillips 66 in the second quarter worth $113,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Phillips 66 in the second quarter worth $127,000. Finally, FTB Advisors Inc. grew its stake in shares of Phillips 66 by 112.9% in the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 780 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the transaction, the vice president now owns 2,700 shares in the company, valued at $270,675. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on PSX. Vetr cut shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective on the stock. in a research note on Tuesday, November 21st. Royal Bank of Canada reissued a “hold” rating and issued a $106.00 price objective on shares of Phillips 66 in a research note on Tuesday, January 30th. Piper Jaffray Companies set a $93.00 price objective on shares of Phillips 66 and gave the stock a “buy” rating in a research note on Monday, November 13th. Scotiabank reissued a “buy” rating and issued a $112.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $103.89.

Phillips 66 (NYSE:PSX) traded up $1.70 during mid-day trading on Friday, reaching $91.83. 2,916,011 shares of the company traded hands, compared to its average volume of 2,410,000. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $107.47. The firm has a market capitalization of $46,530.00, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. The firm had revenue of $30.12 billion for the quarter, compared to analyst estimates of $30.71 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. equities analysts anticipate that Phillips 66 will post 7.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.05%. Phillips 66’s dividend payout ratio is currently 70.53%.

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Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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2018-02-24T03:07:30+00:00