AE Wealth Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 49.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,737 shares of the oil and gas company’s stock after purchasing an additional 2,239 shares during the period. AE Wealth Management LLC’s holdings in Phillips 66 were worth $681,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. SFE Investment Counsel acquired a new stake in Phillips 66 during the fourth quarter worth about $212,000. Price Capital Management Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $1,080,000. ING Groep NV acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $438,000. Cypress Wealth Services LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $810,000. Finally, Main Street Research LLC boosted its stake in shares of Phillips 66 by 1.3% in the 4th quarter. Main Street Research LLC now owns 119,322 shares of the oil and gas company’s stock valued at $12,069,000 after purchasing an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at $92.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $107.47. The stock has a market cap of $46,920.00, a P/E ratio of 23.32, a P/E/G ratio of 1.55 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.02%. Phillips 66’s payout ratio is 70.53%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on PSX shares. Barclays downgraded shares of Phillips 66 from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $95.00 to $100.00 in a research note on Tuesday, November 14th. Goldman Sachs Group upgraded shares of Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Credit Suisse Group assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price target on the stock. US Capital Advisors lowered shares of Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Three 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. Phillips 66 currently has an average rating of “Hold” and an average price target of $101.64.
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About Phillips 66
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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