Crawford Investment Counsel Inc. purchased a new position in Phillips 66 (NYSE:PSX – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,556 shares of the oil and gas company’s stock, valued at approximately $221,000.
A number of other hedge funds also recently bought and sold shares of the stock. Dravo Bay LLC acquired a new stake in Phillips 66 during the 1st quarter worth $26,000. First Community Trust NA lifted its holdings in shares of Phillips 66 by 60.6% in the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 126 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $32,000. Accel Wealth Management grew its stake in Phillips 66 by 127.4% during the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Finally, Godsey & Gibb Associates acquired a new position in Phillips 66 during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 71.42% of the company’s stock.
Phillips 66 Trading Up 2.4 %
NYSE:PSX opened at $88.03 on Monday. The company has a market capitalization of $42.35 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. Phillips 66 has a 52-week low of $63.19 and a 52-week high of $111.28. The stock has a fifty day simple moving average of $86.42 and a 200-day simple moving average of $88.29. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
Phillips 66 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Wednesday, August 17th. Phillips 66’s payout ratio is 33.42%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on PSX shares. Credit Suisse Group raised their target price on shares of Phillips 66 to $122.00 in a research report on Thursday, June 9th. Wells Fargo & Company raised their price target on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Piper Sandler upped their price objective on Phillips 66 from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, May 23rd. Morgan Stanley lifted their target price on Phillips 66 from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on Phillips 66 from $102.00 to $112.00 in a research note on Tuesday, May 17th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $108.29.
About Phillips 66
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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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