Phillips 66 (PSX) Shares Bought by Kayne Anderson Capital Advisors LP
Kayne Anderson Capital Advisors LP grew its position in Phillips 66 (NYSE:PSX) by 3,135.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 171,500 shares of the oil and gas company’s stock after buying an additional 166,200 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Phillips 66 were worth $19,259,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PSX. Acropolis Investment Management LLC acquired a new position in Phillips 66 in the 2nd quarter worth $106,000. Kaizen Advisory LLC boosted its stake in Phillips 66 by 144.3% in the 2nd quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 593 shares during the period. Bruderman Asset Management LLC acquired a new position in Phillips 66 in the 1st quarter worth $105,000. Centaurus Financial Inc. acquired a new position in Phillips 66 in the 1st quarter worth $107,000. Finally, Clarus Wealth Advisors acquired a new position in Phillips 66 in the 2nd quarter worth $115,000. 69.69% of the stock is owned by institutional investors.
Shares of NYSE:PSX opened at $114.94 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Phillips 66 has a one year low of $80.73 and a one year high of $123.97. The stock has a market cap of $56.91 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.78%. Phillips 66’s payout ratio is 73.06%.
A number of equities analysts recently weighed in on PSX shares. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Thursday. Argus upped their target price on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, May 17th. Morgan Stanley boosted their price target on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. ValuEngine cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Credit Suisse Group boosted their price target on shares of Phillips 66 from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Phillips 66 presently has an average rating of “Hold” and an average price target of $113.70.
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 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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