Susquehanna Fundamental Investments LLC Takes $3.36 Million Position in Phillips 66 (PSX)
Susquehanna Fundamental Investments LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,000 shares of the oil and gas company’s stock, valued at approximately $3,360,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Phillips 66 by 13.6% in the third quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock worth $3,731,461,000 after purchasing an additional 3,956,900 shares during the period. Vanguard Group Inc increased its holdings in shares of Phillips 66 by 2.8% in the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after purchasing an additional 885,979 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,647,531 shares of the oil and gas company’s stock worth $572,684,000 after purchasing an additional 218,018 shares during the period. Northern Trust Corp increased its holdings in shares of Phillips 66 by 3.2% in the fourth quarter. Northern Trust Corp now owns 5,647,044 shares of the oil and gas company’s stock worth $486,493,000 after purchasing an additional 177,049 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Phillips 66 by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock worth $463,230,000 after purchasing an additional 396,796 shares during the period. 69.30% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 stock opened at $98.36 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.41. The stock has a market cap of $44.30 billion, a PE ratio of 8.40, a PEG ratio of 1.37 and a beta of 0.94. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97.
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, February 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.25%. Phillips 66’s dividend payout ratio is currently 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.
A number of research analysts recently commented on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Raymond James reduced their target price on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, December 31st. Finally, Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $118.75.
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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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