Hyman Charles D lessened its holdings in shares of Phillips 66 (NYSE:PSX – Free Report) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 169,271 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Phillips 66 makes up about 1.3% of Hyman Charles D’s investment portfolio, making the stock its 22nd biggest position. Hyman Charles D’s holdings in Phillips 66 were worth $23,896,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Phillips 66 in the 4th quarter valued at about $1,910,000. Jennison Associates LLC raised its stake in Phillips 66 by 15.1% during the fourth quarter. Jennison Associates LLC now owns 5,621 shares of the oil and gas company’s stock worth $748,000 after purchasing an additional 738 shares during the period. Bfsg LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $80,000. Atria Wealth Solutions Inc. grew its stake in shares of Phillips 66 by 7.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 38,449 shares of the oil and gas company’s stock valued at $5,119,000 after buying an additional 2,519 shares during the period. Finally, Syon Capital LLC increased its holdings in shares of Phillips 66 by 7.9% during the 4th quarter. Syon Capital LLC now owns 3,401 shares of the oil and gas company’s stock worth $453,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
Phillips 66 Stock Down 0.1 %
PSX traded down $0.14 during trading on Monday, hitting $135.23. The company had a trading volume of 1,904,415 shares, compared to its average volume of 2,636,589. The company has a market cap of $57.33 billion, a PE ratio of 10.40, a P/E/G ratio of 2.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The business has a 50-day moving average of $137.88 and a 200-day moving average of $145.48.
Phillips 66 Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.40%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.
Insider Activity at Phillips 66
In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on PSX shares. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.38.
Read Our Latest Stock Report on Phillips 66
Phillips 66 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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