Alps Advisors Inc. grew its holdings in Phillips 66 (NYSE:PSX) by 82.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,692 shares of the oil and gas company’s stock after purchasing an additional 2,126 shares during the period. Alps Advisors Inc.’s holdings in Phillips 66 were worth $430,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC boosted its position in shares of Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 277 shares during the period. Motco increased its stake in shares of Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 50 shares during the period. Westside Investment Management Inc. increased its stake in shares of Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $112,000. Finally, Farmers National Bank acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $113,000. Institutional investors own 70.24% of the company’s stock.
PSX has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Jefferies Group restated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Scotiabank restated a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $98.00 target price on shares of Phillips 66 in a report on Tuesday, September 26th. Finally, Howard Weil upgraded Phillips 66 from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $86.00 to $98.00 in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $93.25.
Phillips 66 (NYSE PSX) traded up $0.27 during trading hours on Thursday, reaching $97.86. The company had a trading volume of 1,485,659 shares, compared to its average volume of 2,199,979. The company has a market cap of $49,710.00, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Phillips 66 has a one year low of $75.14 and a one year high of $99.35. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same period in the previous year, the firm earned $1.05 EPS. research analysts anticipate that Phillips 66 will post 4.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, October 17th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. Phillips 66’s dividend payout ratio is presently 70.53%.
Phillips 66 declared that its Board of Directors has initiated a share repurchase plan on Monday, October 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.
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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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