Acadian Asset Management LLC Has $67.61 Million Stake in Phillips 66 (PSX)

Acadian Asset Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 94.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 668,397 shares of the oil and gas company’s stock after purchasing an additional 324,680 shares during the quarter. Acadian Asset Management LLC owned about 0.13% of Phillips 66 worth $67,606,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PSX. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Phillips 66 in the 4th quarter valued at $102,000. Motco lifted its stake in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $112,000. Ffcm LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $113,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $127,000. 70.12% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on PSX. Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a research note on Thursday, January 11th. Credit Suisse Group initiated coverage on Phillips 66 in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price objective on the stock. Barclays reaffirmed a “sell” rating and set a $111.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective on the stock in a research note on Monday, November 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Phillips 66 has a consensus rating of “Hold” and an average target price of $96.66.

Phillips 66 (NYSE PSX) opened at $105.29 on Friday. The stock has a market capitalization of $53,350.00, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. 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 1-year low of $75.14 and a 1-year high of $106.91.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $1.05 EPS. equities analysts forecast that Phillips 66 will post 4.36 earnings per share for the current year.

Phillips 66 declared that its Board of Directors has authorized a stock buyback plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. 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 corporate insiders.

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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.

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

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