Great Diamond Partners LLC lessened its position in Phillips 66 (NYSE:PSX – Free Report) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,342 shares of the oil and gas company’s stock after selling 352 shares during the quarter. Great Diamond Partners LLC’s holdings in Phillips 66 were worth $702,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners lifted its holdings in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.
Phillips 66 Trading Down 4.3 %
Shares of Phillips 66 stock opened at $123.29 on Wednesday. Phillips 66 has a 12-month low of $109.86 and a 12-month high of $174.08. The stock has a market capitalization of $51.61 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The company has a 50-day simple moving average of $132.04 and a 200 day simple moving average of $138.32. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.73%. Phillips 66’s payout ratio is 39.45%.
Insiders Place Their Bets
In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.22% of the company’s stock.
Analyst Upgrades and Downgrades
PSX has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.50.
View Our Latest Stock Analysis on PSX
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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