Municipal Employees Retirement System of Michigan boosted its stake in shares of Phillips 66 (NYSE:PSX) by 128.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,310 shares of the oil and gas company’s stock after buying an additional 14,210 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Phillips 66 were worth $2,560,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PSX. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $102,000. First Dallas Securities Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $143,000. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 112.9% in the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 780 shares during the period. Truewealth LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $151,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Phillips 66 in the third quarter valued at approximately $141,000. 77.72% of the stock is owned by institutional investors.
Phillips 66 (NYSE PSX) traded up $1.19 during mid-day trading on Friday, reaching $95.89. 170,032 shares of the company’s stock were exchanged, compared to its average volume of 2,221,429. The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.37. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $107.47. The firm has a market capitalization of $44,853.98, a PE ratio of 9.54, a P/E/G ratio of 1.69 and a beta of 1.18.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. The company had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $30.71 billion. During the same quarter last year, the company earned $0.16 earnings per share. equities analysts predict that Phillips 66 will post 6.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. Phillips 66’s payout ratio is currently 28.20%.
Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Phillips 66 from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $115.00 target price on shares of Phillips 66 in a report on Monday, January 22nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $106.00 target price on shares of Phillips 66 in a report on Tuesday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Finally, Credit Suisse Group initiated coverage on shares of Phillips 66 in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Phillips 66 has an average rating of “Hold” and an average target price of $103.37.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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