Opus Investment Management Inc. bought a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, HoldingsChannel reports. The fund bought 4,689 shares of the oil and gas company’s stock, valued at approximately $446,000.
Several other hedge funds have also recently made changes to their positions in PSX. Oregon Public Employees Retirement Fund boosted its stake in 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 last quarter. Norges Bank bought a new position in Phillips 66 during the 4th quarter valued at $386,757,000. LSV Asset Management boosted its stake in 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Phillips 66 by 7.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after acquiring an additional 958,545 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in Phillips 66 by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after acquiring an additional 885,979 shares during the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.
PSX has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Friday. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Morgan Stanley reduced their price objective on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and increased their price objective for the company from $105.00 to $107.00 in a research note on Monday, April 15th. Finally, Citigroup increased their price objective on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $119.42.
In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were acquired at an average cost of $84.41 per share, for a total transaction of $168,820.00. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.
Shares of NYSE:PSX opened at $86.45 on Friday. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.91. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31.
Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period in the prior year, the company earned $1.04 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.33%.
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Phillips 66 Company Profile
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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