Fayez Sarofim & Co lowered its stake in shares of Phillips 66 (NYSE:PSX) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 741,364 shares of the oil and gas company’s stock after selling 1,967 shares during the period. Fayez Sarofim & Co owned approximately 0.16% of Phillips 66 worth $71,111,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new position in Phillips 66 during the first quarter worth approximately $107,000. Pin Oak Investment Advisors Inc. purchased a new position in Phillips 66 during the fourth quarter worth approximately $119,000. First Dallas Securities Inc. purchased a new position in Phillips 66 during the fourth quarter worth approximately $143,000. Truewealth LLC purchased a new position in Phillips 66 during the fourth quarter worth approximately $151,000. Finally, University of Texas Investment Managment Co. purchased a new position in Phillips 66 during the fourth quarter worth approximately $156,000. 69.39% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on the stock. Credit Suisse Group increased their price target on shares of Phillips 66 from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. Barclays increased their price objective on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, April 30th. Argus increased their price objective on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Citigroup increased their price objective on shares of Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 13th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $106.00 price objective on shares of Phillips 66 in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $106.19.
PSX opened at $118.75 on Wednesday. The firm has a market cap of $56.57 billion, a P/E ratio of 27.11, a PEG ratio of 1.99 and a beta of 1.07. Phillips 66 has a twelve month low of $75.85 and a twelve month high of $122.38. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.48.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.13. The business had revenue of $24.05 billion during the quarter, compared to analyst estimates of $29.23 billion. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. During the same period last year, the business earned $0.56 EPS. equities analysts forecast that Phillips 66 will post 7.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 21st will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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