Breton Hill Capital Ltd. grew its holdings in shares of Phillips 66 (NYSE:PSX) by 31.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,159 shares of the oil and gas company’s stock after purchasing an additional 7,754 shares during the period. Phillips 66 makes up approximately 0.5% of Breton Hill Capital Ltd.’s holdings, making the stock its 28th largest position. Breton Hill Capital Ltd.’s holdings in Phillips 66 were worth $2,946,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Phillips 66 by 34.9% in the 3rd quarter. Bessemer Group Inc. now owns 157,444 shares of the oil and gas company’s stock worth $14,424,000 after acquiring an additional 40,763 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in Phillips 66 by 18.6% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 3,534 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 553 shares during the last quarter. Swiss National Bank raised its holdings in Phillips 66 by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,617,514 shares of the oil and gas company’s stock worth $148,180,000 after acquiring an additional 10,400 shares during the last quarter. Bank of Hawaii raised its holdings in Phillips 66 by 8.2% in the 3rd quarter. Bank of Hawaii now owns 40,752 shares of the oil and gas company’s stock worth $3,733,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Advisor Partners LLC raised its holdings in Phillips 66 by 6.1% in the 3rd quarter. Advisor Partners LLC now owns 13,965 shares of the oil and gas company’s stock worth $1,279,000 after acquiring an additional 804 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.
PSX has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Vetr lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective for the company. in a report on Thursday, November 2nd. Jefferies Group LLC lowered shares of Phillips 66 from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $75.14 in a report on Monday, October 16th. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $91.00 target price (up previously from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $93.33.
Shares of Phillips 66 (NYSE PSX) traded up $0.31 during mid-day trading on Monday, hitting $93.97. 153,922 shares of the stock were exchanged, compared to its average volume of 2,239,510. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $95.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. The company has a market cap of $47,460.00, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The firm had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. sell-side analysts expect that Phillips 66 will post 4.58 earnings per share for the current fiscal year.
Phillips 66 declared that its board has authorized a share repurchase plan on Monday, October 9th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 70.53%.
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Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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