Sei Investments Co. raised its holdings in Phillips 66 (NYSE:PSX) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,747 shares of the oil and gas company’s stock after buying an additional 2,287 shares during the quarter. Sei Investments Co.’s holdings in Phillips 66 were worth $12,344,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. FDx Advisors Inc. grew its holdings in Phillips 66 by 21.8% in the 3rd quarter. FDx Advisors Inc. now owns 22,256 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 3,981 shares during the period. Alps Advisors Inc. grew its holdings in Phillips 66 by 82.9% in the 3rd quarter. Alps Advisors Inc. now owns 4,692 shares of the oil and gas company’s stock valued at $430,000 after buying an additional 2,126 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Phillips 66 by 2.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 76,166 shares of the oil and gas company’s stock valued at $6,978,000 after buying an additional 1,786 shares during the period. Breton Hill Capital Ltd. grew its holdings in Phillips 66 by 31.8% in the 3rd quarter. Breton Hill Capital Ltd. now owns 32,159 shares of the oil and gas company’s stock valued at $2,946,000 after buying an additional 7,754 shares during the period. Finally, Bessemer Group Inc. grew 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 valued at $14,424,000 after buying an additional 40,763 shares during the period. Institutional investors own 69.81% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at $92.65 on Friday. The company has a market capitalization of $46,850.00, a P/E ratio of 26.75, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping 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 period in the previous year, the company posted $1.05 EPS. analysts predict that Phillips 66 will post 4.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 70.53%.
Phillips 66 declared that its board has approved a stock repurchase program on Monday, October 9th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.
Several research firms have commented on PSX. Jefferies Group LLC cut Phillips 66 from a “hold” rating to an “underperform” rating and lowered their price target for the company from $95.00 to $75.14 in a report on Monday, October 16th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Argus restated a “buy” rating and issued a $108.00 price target (up previously from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Piper Jaffray Companies set a $93.00 price target on Phillips 66 and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a report on Monday, November 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $93.25.
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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