Independent Advisor Alliance raised its holdings in Phillips 66 (NYSE:PSX) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,800 shares of the oil and gas company’s stock after purchasing an additional 3,029 shares during the quarter. Independent Advisor Alliance’s holdings in Phillips 66 were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of PSX. Harvest Group Wealth Management LLC bought a new position in shares of Phillips 66 during the 1st quarter worth $31,000. FNY Investment Advisers LLC bought a new position in shares of Phillips 66 during the 4th quarter worth $37,000. Proficio Capital Partners LLC grew its stake in shares of Phillips 66 by 46.1% during the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 137 shares during the period. Burt Wealth Advisors grew its stake in shares of Phillips 66 by 285.7% during the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Finally, Truehand Inc bought a new position in shares of Phillips 66 during the 4th quarter worth $40,000. Institutional investors own 71.83% of the company’s stock.
Shares of PSX opened at $86.45 on Friday. The stock has a market cap of $39.60 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.38 and a beta of 0.91. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 4.16%. Phillips 66’s dividend payout ratio is 27.33%.
Several research analysts have recently weighed in on PSX shares. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, April 29th. They noted that the move was a valuation call. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Citigroup increased their price objective on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Argus dropped their price objective on Phillips 66 to $116.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Finally, Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and increased their price objective for the stock from $105.00 to $107.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average price target of $119.42.
In other news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John E. Lowe acquired 2,000 shares of Phillips 66 stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $84.41 per share, for a total transaction of $168,820.00. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.
Phillips 66 Company 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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