Summit Trail Advisors LLC raised its holdings in Phillips 66 (NYSE:PSX – Free Report) by 91.3% during the second quarter, Holdings Channel.com reports. The fund owned 8,140 shares of the oil and gas company’s stock after purchasing an additional 3,886 shares during the period. Summit Trail Advisors LLC’s holdings in Phillips 66 were worth $1,149,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of Phillips 66 by 0.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,771 shares of the oil and gas company’s stock worth $3,779,000 after purchasing an additional 197 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Phillips 66 by 4.8% during the second quarter. Pacer Advisors Inc. now owns 34,272 shares of the oil and gas company’s stock worth $4,838,000 after buying an additional 1,573 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Phillips 66 by 147.4% during the 2nd quarter. AE Wealth Management LLC now owns 21,218 shares of the oil and gas company’s stock worth $2,995,000 after buying an additional 12,642 shares during the period. Bridges Investment Management Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $518,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after acquiring an additional 377,314 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.
Phillips 66 Stock Performance
PSX opened at $129.97 on Friday. The business’s 50-day simple moving average is $135.20 and its 200 day simple moving average is $143.67. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market capitalization of $55.10 billion, a PE ratio of 10.00, a PEG ratio of 4.67 and a beta of 1.33.
Phillips 66 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s payout ratio is 35.38%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.
Read Our Latest Report on Phillips 66
Insider Activity
In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by insiders.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.
Read More
- Five stocks we like better than Phillips 66
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- What is a buyback in stocks? A comprehensive guide for investors
- MarketBeat Week in Review – 9/16 – 9/20
- What is Short Interest? How to Use It
- Don’t Miss These 3 Retail Stocks for Fall Gains
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.