Laurel Wealth Advisors Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,005 shares of the oil and gas company’s stock after selling 245 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Phillips 66 were worth $1,591,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Phillips 66 by 2.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 91,738 shares of the oil and gas company’s stock valued at $8,581,000 after buying an additional 2,364 shares during the period. InterOcean Capital LLC boosted its position in shares of Phillips 66 by 28.1% in the 2nd quarter. InterOcean Capital LLC now owns 160,169 shares of the oil and gas company’s stock worth $14,982,000 after purchasing an additional 35,167 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Phillips 66 in the 2nd quarter worth $2,459,000. ETRADE Capital Management LLC boosted its position in shares of Phillips 66 by 9.2% in the 2nd quarter. ETRADE Capital Management LLC now owns 56,608 shares of the oil and gas company’s stock worth $5,295,000 after purchasing an additional 4,763 shares during the last quarter. Finally, AXA boosted its position in shares of Phillips 66 by 87.1% in the 2nd quarter. AXA now owns 447,833 shares of the oil and gas company’s stock worth $41,890,000 after purchasing an additional 208,522 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
NYSE:PSX traded up $0.55 on Friday, hitting $102.74. The stock had a trading volume of 129,843 shares, compared to its average volume of 2,138,080. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The stock has a market cap of $46.18 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 2.06 and a beta of 1.08. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $119.14. The firm’s fifty day simple moving average is $99.47 and its two-hundred day simple moving average is $94.58.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Monday, August 19th. Phillips 66’s dividend payout ratio is currently 30.74%.
Several research analysts have recently issued reports on the company. Raymond James raised their price target on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Scotiabank assumed coverage on Phillips 66 in a research report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price target on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Finally, Cowen raised their price target on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $115.55.
About Phillips 66
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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