Avalon Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,527 shares of the oil and gas company’s stock after buying an additional 460 shares during the quarter. Avalon Advisors LLC’s holdings in Phillips 66 were worth $914,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $1,622,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $190,000. Altium Wealth Management LLC raised its stake in shares of Phillips 66 by 19.8% in the 1st quarter. Altium Wealth Management LLC now owns 3,153 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 522 shares during the period. Chesapeake Wealth Management acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $703,000. Finally, Wealth Alliance Advisory Group LLC raised its stake in shares of Phillips 66 by 69.2% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 18,313 shares of the oil and gas company’s stock valued at $1,757,000 after purchasing an additional 7,487 shares during the period. 69.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Chukwuemeka A. Oyolu sold 6,900 shares of Phillips 66 stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $120.00, for a total transaction of $828,000.00. Following the completion of the transaction, the vice president now owns 8,177 shares in the company, valued at $981,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.
Shares of NYSE PSX opened at $112.31 on Friday. The stock has a market capitalization of $52.05 billion, a PE ratio of 25.64, a P/E/G ratio of 1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.31 and a quick ratio of 0.80. Phillips 66 has a fifty-two week low of $80.73 and a fifty-two week high of $122.38.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Phillips 66 had a return on equity of 10.00% and a net margin of 4.85%. The business had revenue of $24.05 billion during the quarter, compared to analysts’ expectations of $29.23 billion. During the same quarter last year, the company posted $0.56 earnings per share. sell-side analysts forecast that Phillips 66 will post 7.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Monday, May 21st were issued a dividend of $0.80 per share. The ex-dividend date was Friday, May 18th. This represents a $3.20 dividend on an annualized basis and a yield of 2.85%. This is a boost from Phillips 66’s previous quarterly dividend of $0.70. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
Several analysts have issued reports on PSX shares. Credit Suisse Group reissued a “neutral” rating and issued a $110.00 price target on shares of Phillips 66 in a research note on Wednesday, March 7th. Citigroup lifted their price target on Phillips 66 from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, March 13th. Deutsche Bank dropped their price target on Phillips 66 from $106.00 to $102.00 and set a “hold” rating on the stock in a research note on Monday, March 19th. ValuEngine downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Phillips 66 from $108.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, April 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $108.25.
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, 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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