Millennium Management LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 62.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,190 shares of the oil and gas company’s stock after selling 575,521 shares during the quarter. Millennium Management LLC owned about 0.07% of Phillips 66 worth $34,410,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $102,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $143,000. FTB Advisors Inc. increased its holdings in shares of Phillips 66 by 112.9% during the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 780 shares in the last quarter. Truewealth LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $151,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Phillips 66 during the third quarter valued at about $141,000. 77.72% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on PSX shares. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective on the stock in a report on Monday, November 27th. US Capital Advisors downgraded shares of Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Goldman Sachs upgraded shares of Phillips 66 to a “buy” rating in a report on Monday, December 18th. Royal Bank of Canada restated a “hold” rating and set a $102.00 price objective on shares of Phillips 66 in a report on Wednesday, December 20th. 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 price target on the stock. 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 currently has a consensus rating of “Hold” and an average price target of $103.37.
Shares of PSX stock opened at $93.39 on Friday. The company has a market cap of $44,177.55, a P/E ratio of 9.40, a PEG ratio of 1.66 and a beta of 1.18. Phillips 66 has a one year low of $75.14 and a one year high of $107.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. The business had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $30.71 billion. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. During the same quarter last year, the company earned $0.16 EPS. research analysts forecast that Phillips 66 will post 6.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Phillips 66’s dividend payout ratio (DPR) is 28.20%.
About Phillips 66
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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