Phillips 66 (NYSE:PSX) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $89.05 and last traded at $89.17, with a volume of 72328 shares trading hands. The stock had previously closed at $93.65.
Several research firms have recently weighed in on PSX. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday. Barclays upgraded Phillips 66 from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $133.00 to $128.00 in a report on Wednesday, October 3rd. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Wells Fargo & Co boosted their price target on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Finally, Citigroup boosted their price target on Phillips 66 from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, September 7th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $121.48.
The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $43.18 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.25 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
In other Phillips 66 news, Director J Brian Ferguson purchased 21,500 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were purchased at an average cost of $92.31 per share, with a total value of $1,984,665.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. SevenBridge Financial Group LLC grew its stake in Phillips 66 by 2.2% in the 2nd quarter. SevenBridge Financial Group LLC now owns 20,083 shares of the oil and gas company’s stock valued at $2,256,000 after purchasing an additional 435 shares during the period. M Holdings Securities Inc. grew its stake in shares of Phillips 66 by 19.7% during the 2nd quarter. M Holdings Securities Inc. now owns 2,670 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 439 shares during the period. CX Institutional grew its stake in shares of Phillips 66 by 3.4% during the 3rd quarter. CX Institutional now owns 13,250 shares of the oil and gas company’s stock worth $1,494,000 after acquiring an additional 440 shares during the period. Captrust Financial Advisors grew its stake in shares of Phillips 66 by 33.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,820 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 458 shares during the period. Finally, Montag A & Associates Inc. grew its stake in shares of Phillips 66 by 10.5% during the 2nd quarter. Montag A & Associates Inc. now owns 5,002 shares of the oil and gas company’s stock worth $562,000 after acquiring an additional 477 shares during the period. 72.57% of the stock is currently owned by institutional investors.
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About Phillips 66 (NYSE:PSX)
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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