IFM Investors Pty Ltd grew its holdings in Phillips 66 (NYSE:PSX) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,317 shares of the oil and gas company’s stock after acquiring an additional 3,738 shares during the period. IFM Investors Pty Ltd’s holdings in Phillips 66 were worth $2,790,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in Phillips 66 by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after buying an additional 885,979 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Phillips 66 by 7.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after buying an additional 958,545 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Phillips 66 by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 6,647,531 shares of the oil and gas company’s stock valued at $572,684,000 after buying an additional 218,018 shares in the last quarter. Northern Trust Corp lifted its holdings in Phillips 66 by 3.2% during the 4th quarter. Northern Trust Corp now owns 5,647,044 shares of the oil and gas company’s stock valued at $486,493,000 after buying an additional 177,049 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Phillips 66 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock valued at $463,230,000 after buying an additional 396,796 shares in the last quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.
NYSE:PSX traded up $0.90 during trading hours on Friday, hitting $86.65. 3,059,227 shares of the company were exchanged, compared to its average volume of 2,567,103. The company has a market cap of $38.89 billion, a PE ratio of 7.40, a P/E/G ratio of 1.35 and a beta of 0.91. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.90 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Several research firms have recently commented on PSX. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Argus reduced their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Citigroup boosted their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Jefferies Financial Group lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and boosted their price target for the company from $105.00 to $107.00 in a report on Monday, April 15th. Finally, ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research 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 assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $120.67.
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Phillips 66 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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