Paragon Capital Management LLC lifted its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,324 shares of the oil and gas company’s stock after acquiring an additional 145 shares during the period. Phillips 66 makes up approximately 0.4% of Paragon Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Paragon Capital Management LLC’s holdings in Phillips 66 were worth $821,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Phillips 66 by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,654,777 shares of the oil and gas company’s stock valued at $534,583,000 after acquiring an additional 195,288 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Phillips 66 by 5.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,626,638 shares of the oil and gas company’s stock worth $534,094,000 after buying an additional 402,779 shares in the last quarter. Morgan Stanley grew its stake in Phillips 66 by 13.0% during the third quarter. Morgan Stanley now owns 3,877,915 shares of the oil and gas company’s stock worth $271,571,000 after buying an additional 446,011 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Phillips 66 by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,322,508 shares of the oil and gas company’s stock worth $232,680,000 after buying an additional 37,530 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Phillips 66 by 9.3% during the third quarter. Invesco Ltd. now owns 3,286,147 shares of the oil and gas company’s stock worth $230,130,000 after buying an additional 278,290 shares in the last quarter. Institutional investors and hedge funds own 64.28% of the company’s stock.
Phillips 66 stock traded up $0.11 during mid-day trading on Tuesday, hitting $97.19. 145,289 shares of the stock were exchanged, compared to its average volume of 4,431,863. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $97.98. The firm’s fifty day simple moving average is $85.04 and its two-hundred day simple moving average is $81.48. The stock has a market capitalization of $46.76 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 0.93 and a beta of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd will be issued a dividend of $0.97 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, May 20th. This represents a $3.88 annualized dividend and a yield of 3.99%. Phillips 66’s dividend payout ratio (DPR) is presently 64.11%.
A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of Phillips 66 from $97.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, January 31st. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. TheStreet raised shares of Phillips 66 from a “c+” rating to a “b” rating in a report on Wednesday, February 23rd. Raymond James increased their target price on shares of Phillips 66 from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, January 31st. Finally, Piper Sandler increased their target price on shares of Phillips 66 from $107.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday, April 18th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $98.21.
Phillips 66 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.
- Get a free copy of the StockNews.com research report on Phillips 66 (PSX)
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