First Eagle Investment Management LLC raised its position in Phillips 66 (NYSE:PSX) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,313,698 shares of the oil and gas company’s stock after buying an additional 29,094 shares during the period. First Eagle Investment Management LLC owned about 0.26% of Phillips 66 worth $120,348,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bancorpsouth Inc. grew its position in shares of Phillips 66 by 2.7% in the first quarter. Bancorpsouth Inc. now owns 28,321 shares of the oil and gas company’s stock valued at $2,244,000 after purchasing an additional 757 shares during the period. Cibc World Markets Corp grew its position in shares of Phillips 66 by 267.2% in the first quarter. Cibc World Markets Corp now owns 111,723 shares of the oil and gas company’s stock valued at $8,851,000 after purchasing an additional 81,298 shares during the period. SVA Plumb Wealth Management LLC grew its position in shares of Phillips 66 by 6.1% in the first quarter. SVA Plumb Wealth Management LLC now owns 50,891 shares of the oil and gas company’s stock valued at $4,032,000 after purchasing an additional 2,930 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $2,282,000. Finally, Tredje AP fonden grew its position in shares of Phillips 66 by 2.8% in the first quarter. Tredje AP fonden now owns 46,879 shares of the oil and gas company’s stock valued at $3,714,000 after purchasing an additional 1,260 shares during the period. 69.81% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded down $0.34 during trading on Tuesday, hitting $93.32. 1,264,800 shares of the stock were exchanged, compared to its average volume of 2,235,059. The stock has a market cap of $47,908.10, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $95.00. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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. The business had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same period in the previous year, the firm earned $1.05 EPS. equities research analysts forecast that Phillips 66 will post 4.58 earnings per share for the current year.
The business 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 70.18%.
Phillips 66 announced that its board has initiated a share repurchase plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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PSX has been the topic of a number of recent research reports. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research 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 target on the stock. in a research report on Thursday, November 2nd. Jefferies Group LLC lowered shares of Phillips 66 from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $95.00 to $75.14 in a research report on Monday, October 16th. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company restated a “market perform” rating and set a $91.00 price target (up from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $93.02.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
About Phillips 66
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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