Traders Buy Shares of Phillips 66 (PSX) on Weakness
Traders purchased shares of Phillips 66 (NYSE:PSX) on weakness during trading on Wednesday. $97.46 million flowed into the stock on the tick-up and $45.18 million flowed out of the stock on the tick-down, for a money net flow of $52.28 million into the stock. Of all companies tracked, Phillips 66 had the 30th highest net in-flow for the day. Phillips 66 traded down ($0.71) for the day and closed at $98.18
Several research firms recently issued reports on PSX. Morgan Stanley reduced their price target on Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, November 26th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. ValuEngine downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Finally, Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $120.27.
The company has a market cap of $44.91 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, February 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.26%. Phillips 66’s payout ratio is 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total transaction of $4,170,680.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PSX. Oregon Public Employees Retirement Fund lifted its position in shares of Phillips 66 by 3,775.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 4,527,183 shares during the period. Norges Bank bought a new stake in shares of Phillips 66 during the 4th quarter valued at $386,757,000. BlackRock Inc. lifted its position in shares of Phillips 66 by 13.6% during the 3rd quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock valued at $3,731,461,000 after acquiring an additional 3,956,900 shares during the period. LSV Asset Management lifted its position in shares of Phillips 66 by 96.9% during the 4th quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock valued at $275,803,000 after acquiring an additional 1,575,744 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at $110,916,000. Hedge funds and other institutional investors own 69.97% of the company’s stock.
Phillips 66 Company Profile (NYSE:PSX)
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 products to market; provides terminaling and storage services for crude oil and 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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