Stephens Inc. AR Lowers Stake in Phillips 66 (PSX)
Stephens Inc. AR reduced its position in shares of Phillips 66 (NYSE:PSX) by 5.1% in the fourth quarter, Holdings Channel reports. The fund owned 20,763 shares of the oil and gas company’s stock after selling 1,113 shares during the quarter. Stephens Inc. AR’s holdings in Phillips 66 were worth $2,100,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $102,000. Bruderman Asset Management LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $112,000. Mountain Capital Investment Advisors Inc bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $127,000. FTB Advisors Inc. boosted its position in shares of Phillips 66 by 112.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 780 shares during the last quarter. Finally, BB&T Investment Services Inc. bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $138,000. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Shares of Phillips 66 (PSX) opened at $92.60 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The firm has a market capitalization of $46,404.88, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Phillips 66’s payout ratio is 28.20%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.
PSX has been the subject of a number of research reports. Barclays downgraded Phillips 66 from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $95.00 to $100.00 in a research report on Tuesday, November 14th. Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Credit Suisse Group began coverage on Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price for the company. US Capital Advisors lowered Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $101.64.
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Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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