FDx Advisors Inc. increased its position in Phillips 66 (NYSE:PSX) by 21.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,256 shares of the oil and gas company’s stock after acquiring an additional 3,981 shares during the quarter. FDx Advisors Inc.’s holdings in Phillips 66 were worth $2,039,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares in the last quarter. Motco boosted its position in shares of Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of Phillips 66 by 239.2% during the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,000 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $112,000. Finally, Farmers National Bank bought a new position in shares of Phillips 66 during the 1st quarter valued at approximately $113,000. 69.81% of the stock is owned by institutional investors.
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In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.
A number of research firms have recently commented on PSX. Piper Jaffray Companies set a $93.00 target price on Phillips 66 and gave the company a “buy” rating in a research report on Monday. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 target price on shares of Phillips 66 in a research report on Tuesday, September 5th. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. J P Morgan Chase & Co increased their target price on Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Finally, Barclays PLC set a $95.00 target price on Phillips 66 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $93.02.
Shares of Phillips 66 (NYSE PSX) opened at $93.32 on Tuesday. The firm has a market capitalization of $47,908.10, a price-to-earnings ratio of 26.99, a PEG ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same quarter last year, the firm posted $1.05 earnings per share. equities research analysts predict that Phillips 66 will post 4.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Phillips 66’s dividend payout ratio is currently 70.18%.
Phillips 66 declared that its Board of Directors has approved a stock 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 reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Phillips 66 Company 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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