Peoples Financial Services CORP. lowered its stake in Phillips 66 (NYSE:PSX) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,701 shares of the oil and gas company’s stock after selling 285 shares during the quarter. Peoples Financial Services CORP.’s holdings in Phillips 66 were worth $907,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of PSX. Harvest Group Wealth Management LLC acquired a new stake in Phillips 66 in the first quarter worth about $31,000. TCG Advisors LP acquired a new stake in Phillips 66 in the first quarter worth about $38,000. Burt Wealth Advisors lifted its holdings in Phillips 66 by 285.7% in the first quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Glassman Wealth Services lifted its holdings in Phillips 66 by 32.6% in the first quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 116 shares during the period. Finally, Trust Department MB Financial Bank N A lifted its holdings in Phillips 66 by 101.7% in the 1st quarter. Trust Department MB Financial Bank N A now owns 488 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 246 shares during the last quarter. 69.97% of the stock is owned by institutional investors and hedge funds.
PSX stock traded down $0.23 during mid-day trading on Tuesday, reaching $102.32. 1,696,031 shares of the stock traded hands, compared to its average volume of 2,713,436. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The stock has a market capitalization of $46.47 billion, a P/E ratio of 8.74, a P/E/G ratio of 2.12 and a beta of 1.08. The stock has a fifty day moving average of $93.15.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, August 19th. Phillips 66’s dividend payout ratio is presently 30.74%.
In other news, Director John E. Lowe acquired 2,000 shares of Phillips 66 stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, with a total value of $165,820.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 price target for the company. Bank of America reissued a “buy” rating and issued a $420.00 price target (up from $400.00) on shares of Lendingtree in a report on Monday, April 29th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Citigroup upped their price target on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the company a “buy” rating in a report on Friday, June 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $117.82.
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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