FCA Corp TX Grows Holdings in Phillips 66 (PSX)

FCA Corp TX raised its position in Phillips 66 (NYSE:PSX) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,550 shares of the oil and gas company’s stock after acquiring an additional 3,250 shares during the quarter. FCA Corp TX’s holdings in Phillips 66 were worth $1,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its position in shares of Phillips 66 by 27.4% during the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares in the last quarter. Motco grew its position in shares of Phillips 66 by 4.0% during the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Ffcm LLC acquired a new position in shares of Phillips 66 during the second quarter worth about $113,000. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 during the second quarter worth about $112,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Phillips 66 during the second quarter worth about $116,000. 69.92% of the stock is owned by institutional investors.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

A number of equities analysts have recently commented on the company. Jefferies Group LLC downgraded Phillips 66 from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $75.14 in a research report on Monday, October 16th. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Argus reissued a “buy” rating and set a $108.00 price objective (up from $96.00) on shares of Phillips 66 in a research report on Thursday, October 12th. Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research report on Monday, November 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $93.25.

Shares of Phillips 66 (PSX) traded down $0.33 on Thursday, reaching $93.29. The company had a trading volume of 1,412,525 shares, compared to its average volume of 2,214,164. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. The firm has a market capitalization of $47,270.00, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the prior year, the company posted $1.05 earnings per share. equities research analysts predict that Phillips 66 will post 4.58 EPS for the current fiscal year.

Phillips 66 announced that its Board of Directors has authorized a share buyback plan on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 70.53%.

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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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