Phillips 66 (PSX) Holdings Cut by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,745 shares of the oil and gas company’s stock after selling 12,715 shares during the period. Gateway Investment Advisers LLC owned 0.08% of Phillips 66 worth $43,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Beach Investment Management LLC. purchased a new position in Phillips 66 during the second quarter valued at $1,693,000. Gamco Investors INC. ET AL lifted its holdings in Phillips 66 by 44.4% during the second quarter. Gamco Investors INC. ET AL now owns 39,012 shares of the oil and gas company’s stock valued at $3,226,000 after purchasing an additional 12,000 shares in the last quarter. Camden National Bank purchased a new position in Phillips 66 during the second quarter valued at $278,000. Everett Harris & Co. CA lifted its holdings in Phillips 66 by 1.0% during the second quarter. Everett Harris & Co. CA now owns 26,938 shares of the oil and gas company’s stock valued at $2,228,000 after purchasing an additional 255 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Phillips 66 by 26.6% during the second quarter. Ballentine Partners LLC now owns 3,314 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 697 shares in the last quarter. 70.12% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on PSX shares. Barclays set a $95.00 target price on shares of Phillips 66 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Scotiabank reiterated a “buy” rating and issued a $112.00 target price on shares of Phillips 66 in a research report on Wednesday, January 10th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price for the company in a research report on Monday, October 16th. Cowen reiterated a “buy” rating and issued a $101.00 target price on shares of Phillips 66 in a research report on Tuesday, October 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $98.00 target price on shares of Phillips 66 in a research report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $96.66.

Phillips 66 (PSX) traded down $1.47 during trading on Wednesday, reaching $103.50. 2,601,200 shares of the company traded hands, compared to its average volume of 1,499,740. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $105.09. The firm has a market capitalization of $53,870.00, a PE ratio of 26.07, a P/E/G ratio of 1.63 and a beta of 1.24. 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 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $29.94 billion. During the same period last year, the business earned $1.05 earnings per share. research analysts anticipate that Phillips 66 will post 4.43 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a stock buyback program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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