Eldred Rock Partners LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

Eldred Rock Partners LLC boosted its holdings in Phillips 66 (NYSE:PSXFree Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,909 shares of the oil and gas company’s stock after acquiring an additional 781 shares during the quarter. Phillips 66 accounts for about 7.0% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 2nd biggest position. Eldred Rock Partners LLC’s holdings in Phillips 66 were worth $12,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at about $559,435,000. Boston Partners boosted its position in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $254,336,000. Wellington Management Group LLP boosted its position in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Phillips 66 by 4,556.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after purchasing an additional 932,552 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.1 %

Phillips 66 stock traded up $0.13 during mid-day trading on Friday, reaching $138.09. The company’s stock had a trading volume of 6,463,625 shares, compared to its average volume of 2,005,362. The company has a market capitalization of $58.54 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The business’s 50 day simple moving average is $144.60 and its 200 day simple moving average is $144.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSXGet Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm posted $4.21 EPS. As a group, research analysts anticipate that Phillips 66 will post 11.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.33%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. TD Cowen reduced their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday. Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Mizuho dropped their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.79.

Get Our Latest Stock Analysis on Phillips 66

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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.

See Also

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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