Centaurus Financial Inc. boosted its position in Phillips 66 (NYSE:PSX – Get Rating) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,396 shares of the oil and gas company’s stock after purchasing an additional 296 shares during the quarter. Centaurus Financial Inc.’s holdings in Phillips 66 were worth $436,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Hallmark Capital Management Inc. raised its holdings in Phillips 66 by 62.5% in the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Horan Securities Inc. increased its holdings in shares of Phillips 66 by 210.6% during the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 238 shares in the last quarter. Core Alternative Capital increased its holdings in shares of Phillips 66 by 218.3% during the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 251 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at $32,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Phillips 66 during the second quarter valued at $37,000. Institutional investors own 70.76% of the company’s stock.
Phillips 66 Trading Down 0.3 %
Shares of NYSE:PSX opened at $94.72 on Friday. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 0.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The stock’s 50-day simple moving average is $102.53 and its two-hundred day simple moving average is $99.45. Phillips 66 has a 52-week low of $74.02 and a 52-week high of $113.53.
Phillips 66 Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 4.43%. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, February 17th. Phillips 66’s dividend payout ratio (DPR) is presently 18.30%.
Insiders Place Their Bets
In other news, Director Gregory Hayes bought 10,250 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were acquired at an average cost of $97.75 per share, with a total value of $1,001,937.50. Following the completion of the transaction, the director now owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.74% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price target on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, January 20th. StockNews.com assumed coverage on Phillips 66 in a report on Thursday. They set a “buy” rating for the company. Wells Fargo & Company reduced their price target on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, January 5th. UBS Group began coverage on Phillips 66 in a report on Wednesday, March 8th. They set a “buy” rating and a $139.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.
About Phillips 66
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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