Lee Financial Co grew its position in Phillips 66 (NYSE:PSX – Get Rating) by 340.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,294 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the quarter. Lee Financial Co’s holdings in Phillips 66 were worth $94,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Schubert & Co purchased a new position in shares of Phillips 66 in the fourth quarter valued at $29,000. JFS Wealth Advisors LLC increased its position in Phillips 66 by 81.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 445 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Norwood Financial Corp purchased a new stake in Phillips 66 during the 4th quarter worth about $33,000. Achmea Investment Management B.V. purchased a new stake in Phillips 66 during the 3rd quarter worth about $32,000. Finally, Tower View Investment Management & Research LLC purchased a new stake in Phillips 66 during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 67.65% of the company’s stock.
A number of brokerages have issued reports on PSX. Wells Fargo & Company raised their price target on Phillips 66 from $97.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, April 21st. Royal Bank of Canada raised their price target on Phillips 66 from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 1st. TheStreet raised Phillips 66 from a “c+” rating to a “b” rating in a research note on Wednesday, February 23rd. Bank of America raised their price target on Phillips 66 from $97.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, January 31st. Finally, Morgan Stanley lifted their price objective on Phillips 66 from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 12th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $95.40.
Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings data on Friday, January 28th. The oil and gas company reported $2.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $1.01. Phillips 66 had a return on equity of 12.11% and a net margin of 1.15%. The business had revenue of $33.57 billion during the quarter, compared to analyst estimates of $27.11 billion. During the same quarter in the previous year, the firm posted ($1.16) EPS. On average, research analysts expect that Phillips 66 will post 8.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 22nd were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, February 18th. This represents a $3.68 annualized dividend and a dividend yield of 4.24%. Phillips 66’s dividend payout ratio (DPR) is 124.32%.
In other news, EVP Robert A. Herman sold 8,169 shares of the company’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $85.87, for a total value of $701,472.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paula Ann Johnson sold 12,000 shares of the business’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $90.03, for a total value of $1,080,360.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,469 shares of company stock valued at $12,955,593. Insiders own 0.74% of the company’s stock.
Phillips 66 Company Profile (Get Rating)
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 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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