Newbridge Monetary Providers Group Inc. decreased its stake in Phillips 66 (NYSE:PSX – Free Report) by 25.8% in the course of the second quarter, in accordance with the corporate in its most up-to-date disclosure with the Securities and Change Fee (SEC). The agency owned 346 shares of the oil and fuel firm’s inventory after promoting 120 shares in the course of the quarter. Newbridge Monetary Providers Group Inc.’s holdings in Phillips 66 have been value $49,000 on the finish of the latest reporting interval.
Different institutional traders have additionally added to or decreased their stakes within the firm. Manning & Napier Advisors LLC acquired a brand new stake in Phillips 66 in the course of the second quarter value roughly $17,670,000. M&G Plc purchased a brand new stake in Phillips 66 within the second quarter valued at $3,596,000. Duality Advisers LP acquired a brand new place in shares of Phillips 66 in the course of the first quarter valued at about $3,596,000. Mirae Asset International Investments Co. Ltd. boosted its place in shares of Phillips 66 by 42.3% in the course of the 1st quarter. Mirae Asset International Investments Co. Ltd. now owns 133,736 shares of the oil and fuel firm’s inventory value $21,844,000 after buying an extra 39,775 shares within the final quarter. Lastly, Lecturers Retirement System of The State of Kentucky grew its stake in shares of Phillips 66 by 14.3% within the 4th quarter. Lecturers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and fuel firm’s inventory valued at $38,530,000 after shopping for an extra 36,116 shares in the course of the interval. 76.93% of the inventory is presently owned by institutional traders.
Wall Road Analyst Weigh In
Numerous analysis corporations just lately weighed in on PSX. TD Cowen dropped their worth goal on Phillips 66 from $162.00 to $150.00 and set a “purchase” ranking on the inventory in a analysis observe on Wednesday, September eleventh. Wolfe Analysis began protection on Phillips 66 in a report on Thursday, July 18th. They issued a “peer carry out” ranking on the inventory. Scotiabank decreased their worth goal on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” ranking for the corporate in a analysis observe on Friday, July twelfth. Piper Sandler dropped their worth goal on shares of Phillips 66 from $151.00 to $136.00 and set an “chubby” ranking on the inventory in a analysis observe on Friday, September twentieth. Lastly, Mizuho decreased their goal worth on shares of Phillips 66 from $154.00 to $150.00 and set a “impartial” ranking for the corporate in a analysis report on Monday, September sixteenth. Six analysts have rated the inventory with a maintain ranking and ten have assigned a purchase ranking to the corporate’s inventory. In response to MarketBeat, the inventory presently has a mean ranking of “Reasonable Purchase” and a mean worth goal of $152.71.
Get Our Newest Analysis Report on Phillips 66
Phillips 66 Inventory Up 3.3 %
PSX inventory opened at $138.93 on Friday. The inventory has a market cap of $58.90 billion, a P/E ratio of 10.69, a P/E/G ratio of 5.28 and a beta of 1.33. The corporate has a present ratio of 1.14, a fast ratio of 0.79 and a debt-to-equity ratio of 0.56. The inventory’s fifty day easy transferring common is $133.90 and its two-hundred day easy transferring common is $142.51. Phillips 66 has a 1-year low of $107.85 and a 1-year excessive of $174.08.
Phillips 66 (NYSE:PSX – Get Free Report) final issued its quarterly earnings outcomes on Tuesday, July thirtieth. The oil and fuel firm reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a internet margin of three.32% and a return on fairness of 16.77%. The corporate had income of $38.91 billion for the quarter, in comparison with the consensus estimate of $37.79 billion. Throughout the identical interval within the earlier yr, the agency earned $3.87 EPS. The agency’s quarterly income was up 8.9% on a year-over-year foundation. Analysts count on that Phillips 66 will publish 8.27 EPS for the present yr.
Phillips 66 Dividend Announcement
The enterprise additionally just lately introduced a quarterly dividend, which was paid on Tuesday, September third. Stockholders of document on Tuesday, August twentieth got a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized foundation and a dividend yield of three.31%. The ex-dividend date of this dividend was Tuesday, August twentieth. Phillips 66’s dividend payout ratio is presently 35.38%.
Insider Transactions at Phillips 66
In associated information, CFO Kevin J. Mitchell bought 30,000 shares of the corporate’s inventory in a transaction that occurred on Thursday, August fifteenth. The inventory was bought at a mean worth of $139.01, for a complete worth of $4,170,300.00. Following the transaction, the chief monetary officer now owns 81,937 shares within the firm, valued at $11,390,062.37. The transaction was disclosed in a doc filed with the SEC, which is accessible by way of the SEC web site. 0.22% of the inventory is presently owned by firm insiders.
Phillips 66 Firm Profile
Phillips 66 operates as an vitality manufacturing and logistics firm in the US, the UK, Germany, and internationally. It operates by way of 4 segments: Midstream, Chemical compounds, Refining, and Advertising and Specialties (M&S). The Midstream phase transports crude oil and different feedstocks; delivers refined petroleum merchandise to market; gives terminaling and storage providers for crude oil and refined petroleum merchandise; transports, shops, fractionates, exports, and markets pure fuel liquids; gives different fee-based processing providers; and gathers, processes, transports, and markets pure fuel.
See Additionally
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