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.
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