South Street Advisors LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,992 shares of the oil and gas company’s stock after selling 1,670 shares during the quarter. Phillips 66 accounts for about 3.0% of South Street Advisors LLC’s portfolio, making the stock its 18th largest position. South Street Advisors LLC’s holdings in Phillips 66 were worth $9,810,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Phillips 66 by 0.4% in the fourth quarter. BlackRock Inc. now owns 27,591,121 shares of the oil and gas company’s stock valued at $2,790,841,000 after buying an additional 119,373 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 7,098,574 shares of the oil and gas company’s stock valued at $718,021,000 after buying an additional 260,478 shares during the last quarter. Geode Capital Management LLC increased its holdings in Phillips 66 by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 4,266,192 shares of the oil and gas company’s stock valued at $430,564,000 after buying an additional 114,191 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in Phillips 66 by 3.1% in the fourth quarter. Aristotle Capital Management LLC now owns 3,592,122 shares of the oil and gas company’s stock valued at $363,343,000 after buying an additional 109,297 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Phillips 66 by 1.2% in the third quarter. Legal & General Group Plc now owns 2,769,247 shares of the oil and gas company’s stock valued at $253,691,000 after buying an additional 33,298 shares during the last quarter. 77.72% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on PSX. Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Credit Suisse Group began coverage on Phillips 66 in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 target price on the stock. Barclays reissued a “sell” rating and issued a $111.00 target price on shares of Phillips 66 in a report on Wednesday, January 10th. Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a report on Monday, November 27th. Finally, US Capital Advisors lowered Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $103.46.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.21. The company had revenue of $30.12 billion for the quarter, compared to analyst estimates of $30.71 billion. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. During the same quarter last year, the company posted $0.16 earnings per share. research analysts forecast that Phillips 66 will post 6.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s payout ratio is 28.20%.
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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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