Phillips 66 (NYSE:PSX) Holdings Lifted by Tompkins Financial Corp
Tompkins Financial Corp boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 74.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 600 shares of the oil and gas company’s stock after buying an additional 256 shares during the period. Tompkins Financial Corp’s holdings in Phillips 66 were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Regent Investment Management LLC boosted its position in Phillips 66 by 12.2% during the 2nd quarter. Regent Investment Management LLC now owns 7,470 shares of the oil and gas company’s stock worth $537,000 after acquiring an additional 812 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Phillips 66 by 6.8% in the second quarter. Koshinski Asset Management Inc. now owns 17,236 shares of the oil and gas company’s stock worth $1,239,000 after purchasing an additional 1,095 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of Phillips 66 during the second quarter worth approximately $292,000. Sciencast Management LP acquired a new stake in shares of Phillips 66 during the second quarter worth approximately $460,000. Finally, Pacer Advisors Inc. purchased a new position in Phillips 66 during the second quarter valued at approximately $2,689,000. 66.79% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 stock opened at $62.02 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.61. Phillips 66 has a fifty-two week low of $40.04 and a fifty-two week high of $119.92. The firm has a fifty day moving average price of $67.98 and a two-hundred day moving average price of $73.22. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 6.53 and a beta of 1.60.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.80%. The ex-dividend date is Monday, August 17th. Phillips 66’s dividend payout ratio is currently 44.72%.
In related news, Director John E. Lowe bought 1,500 shares of Phillips 66 stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of $68.43 per share, for a total transaction of $102,645.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the completion of the transaction, the director now owns 10,213 shares of the company’s stock, valued at $780,273.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 3,750 shares of company stock valued at $268,305. Corporate insiders own 0.63% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Barclays reissued a “buy” rating and set a $94.00 target price on shares of Phillips 66 in a research note on Wednesday, April 8th. Wolfe Research cut Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price objective for the company. in a research report on Wednesday, May 13th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Morgan Stanley cut their price target on Phillips 66 from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Finally, Credit Suisse Group boosted their price target on Phillips 66 from $72.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $83.47.
Phillips 66 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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