Sei Investments Co. cut its position in Phillips 66 (NYSE:PSX) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,955 shares of the oil and gas company’s stock after selling 6,792 shares during the quarter. Sei Investments Co.’s holdings in Phillips 66 were worth $12,942,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. New Mexico Educational Retirement Board boosted its stake in Phillips 66 by 1.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 41,328 shares of the oil and gas company’s stock valued at $4,180,000 after acquiring an additional 600 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Phillips 66 during the 4th quarter valued at $465,000. Cypress Capital Management LLC boosted its stake in Phillips 66 by 6.5% during the 4th quarter. Cypress Capital Management LLC now owns 12,562 shares of the oil and gas company’s stock valued at $1,271,000 after acquiring an additional 763 shares during the last quarter. Capital One National Association boosted its stake in Phillips 66 by 1.4% during the 4th quarter. Capital One National Association now owns 78,179 shares of the oil and gas company’s stock valued at $7,908,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Phillips 66 by 46.0% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 12,007 shares of the oil and gas company’s stock valued at $1,215,000 after acquiring an additional 3,784 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.
A number of research firms have commented on PSX. Scotiabank reiterated a “buy” rating and set a $112.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Barclays reissued a “sell” rating and set a $111.00 target price on shares of Phillips 66 in a report on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating and set a $106.00 target price on shares of Phillips 66 in a report on Tuesday, January 30th. Vetr cut shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 target price on the stock. in a report on Tuesday, November 21st. Finally, Citigroup increased their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $103.89.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $30.71 billion. During the same quarter last year, the company earned $0.16 EPS. analysts expect that Phillips 66 will post 7.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Phillips 66’s dividend payout ratio (DPR) is presently 70.53%.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the 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 sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.
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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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