Old Mutual Global Investors UK Ltd. bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,600 shares of the oil and gas company’s stock, valued at approximately $465,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. bought a new stake in shares of Phillips 66 in the 2nd quarter worth about $979,000. Blue Edge Capital LLC increased its position in shares of Phillips 66 by 3.2% in the 2nd quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after purchasing an additional 160 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Phillips 66 by 7.7% in the 3rd quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after purchasing an additional 24,318 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Phillips 66 by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 231,837 shares of the oil and gas company’s stock worth $23,450,000 after purchasing an additional 5,284 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Phillips 66 by 61.5% in the 4th quarter. State of Alaska Department of Revenue now owns 99,076 shares of the oil and gas company’s stock worth $10,018,000 after purchasing an additional 37,740 shares during the last quarter. 71.09% of the stock is owned by institutional investors.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total value 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 legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $30.71 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. research analysts expect that Phillips 66 will post 7.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is 28.20%.
Several research firms have recently weighed in on PSX. Citigroup boosted their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $115.00 target price on shares of Phillips 66 in a research report on Monday, January 22nd. Royal Bank of Canada reissued a “hold” rating and issued a $106.00 target price on shares of Phillips 66 in a research report on Tuesday, January 30th. Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a research report on Thursday, January 11th. Finally, Credit Suisse Group began coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $103.89.
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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