Trust Co. of Oklahoma decreased its holdings in shares of Houston-based Phillips 66 by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the U.S. Securities Exchange Commission. The firm owned 3,190 shares of the oil and gas company’s stock after selling 1,234 shares during the period. Trust Co. of Oklahoma’s holdings in Phillips 66 were worth $304,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Phillips 66 by 0.3% during the first quarter. BlackRock Inc. now owns 37,428,804 shares of the oil and gas company’s stock worth $3,794,532,000 after buying an additional 102,139 shares during the period.
Wells Fargo & Company MN lifted its position in Phillips 66 by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 16,802,175 shares of the oil and gas company’s stock valued at $1,748,770,000 after purchasing an additional 98,162 shares during the period.
Moneta Group Investment Advisors LLC increased its holdings in Phillips 66 by 100,843.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after buying an additional 9,969,418 shares in the last quarter.
Wellington Management Group LLP increased its holdings in Phillips 66 by 44.3% in the first quarter. Wellington Management Group LLP now owns 8,623,978 shares of the oil and gas company’s stock valued at $874,299,000 after buying an additional 2,646,979 shares in the last quarter.
Morgan Stanley also increased its holdings in Phillips 66 by 16.2% in the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after buying an additional 968,055 shares in the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.
Shares of Phillips 66 traded up $1.35 during mid-day trading on Monday, reaching $122.38. The company had a trading volume of 606,568 shares, compared to its average volume of 3,391,983. The stock has a market cap of $54.49 billion, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 0.42 and a beta of 1.37. The firm has a fifty-day simple moving average of $111.93 and a 200-day simple moving average of $102.58. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $125.19. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61.
Phillips 66 last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.33. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. The firm had revenue of $35.74 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the prior year, the company earned $6.77 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 15.63 EPS for the current fiscal year.
The company recently declared a quarterly dividend which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $4.20 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is 18.22%.
A number of brokerages have issued reports on PSX. Piper Sandler increased their target price on shares of Phillips 66 from $130.00 to $136.00 in a report on Friday, August 4th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $125.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. Argus also raised their price objective on shares of Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $129.87.
In other news, Executive Vice President Brian Mandell sold 3,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $111.84, for a total value of $335,520.00. Following the sale, Mandell now owns 46,451 shares in the company, valued at approximately $5,195,079.84. The sale was disclosed in a SEC filing. Executive Vice President Timothy D. Roberts also sold 127,578 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $116.68, for a total transaction of $14,885,801.04. Following the sale, Roberts now owns 77,313 shares in the company, valued at approximately $9,020,880.84. In the last 90 days, insiders have sold 360,648 shares of company stock worth $41,396,371. Corporate insiders currently own 4.57% of the stock.