WASHINGTON TRUST Co boosted its stake in Phillips 66 (NYSE:PSX) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,472 shares of the oil and gas company’s stock after buying an additional 275 shares during the period. WASHINGTON TRUST Co’s holdings in Phillips 66 were worth $275,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Welch & Forbes LLC raised its stake in Phillips 66 by 1.3% in the third quarter. Welch & Forbes LLC now owns 12,645 shares of the oil and gas company’s stock valued at $1,019,000 after buying an additional 165 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Phillips 66 by 44.3% in the third quarter. Advisors Asset Management Inc. now owns 28,490 shares of the oil and gas company’s stock valued at $2,295,000 after buying an additional 8,748 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Phillips 66 by 5.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,750 shares of the oil and gas company’s stock valued at $23,310,000 after buying an additional 14,733 shares during the last quarter. MUFG Americas Holdings Corp raised its stake in Phillips 66 by 2.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 63,298 shares of the oil and gas company’s stock valued at $5,469,000 after buying an additional 1,695 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Phillips 66 during the fourth quarter valued at about $18,243,000. Hedge funds and other institutional investors own 69.07% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 77.42 on Friday. The company has a 50 day moving average of $78.13 and a 200-day moving average of $81.16. The stock has a market capitalization of $39.96 billion, a P/E ratio of 24.02 and a beta of 1.33. Phillips 66 has a one year low of $73.67 and a one year high of $88.87.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. The business had revenue of $23.71 billion during the quarter, compared to the consensus estimate of $22.30 billion. Phillips 66 had a return on equity of 6.24% and a net margin of 1.81%. During the same period in the previous year, the company posted $0.67 EPS. Equities research analysts predict that Phillips 66 will post $4.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.70 per share. This is an increase from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, May 16th. Phillips 66’s payout ratio is currently 86.30%.
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Several analysts have recently issued reports on PSX shares. Credit Suisse Group AG upped their target price on shares of Phillips 66 from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Mizuho upped their target price on shares of Phillips 66 from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Royal Bank of Canada reiterated a “hold” rating and issued a $87.00 target price on shares of Phillips 66 in a research note on Thursday, April 20th. Barclays PLC reduced their target price on shares of Phillips 66 from $93.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 6th. Finally, Scotiabank set a $86.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $84.81.
About Phillips 66
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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