Assetmark Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,121 shares of the oil and gas company’s stock after buying an additional 6,013 shares during the quarter. Assetmark Inc.’s holdings in Phillips 66 were worth $7,401,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Preferred LLC purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $25,000. TRUE Private Wealth Advisors purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $26,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $32,000. Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $37,000. Finally, TCG Advisors LP purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $38,000. Institutional investors own 68.71% of the company’s stock.
Several equities analysts recently commented on the stock. Evercore ISI assumed coverage on shares of Phillips 66 in a research report on Wednesday, October 2nd. They set an “outperform” rating for the company. Cowen upped their price target on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Wells Fargo & Co increased their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Finally, Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $113.80.
NYSE PSX traded down $0.07 during trading hours on Friday, reaching $106.53. 1,882,370 shares of the company traded hands, compared to its average volume of 2,615,447. The company has a 50 day moving average of $101.09 and a two-hundred day moving average of $95.38. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $111.33. The stock has a market capitalization of $46.07 billion, a PE ratio of 9.10, a PEG ratio of 2.07 and a beta of 1.07.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same period last year, the firm posted $2.80 EPS. On average, equities research analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.90 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.60 annualized dividend and a yield of 3.38%. Phillips 66’s dividend payout ratio is presently 30.74%.
In related news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.
Phillips 66 Profile
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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