Prudential Financial Inc. lowered its position in Phillips 66 (NYSE:PSX) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 702,075 shares of the oil and gas company’s stock after selling 61,950 shares during the quarter. Prudential Financial Inc. owned about 0.14% of Phillips 66 worth $64,318,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in PSX. Atlantic Trust Group LLC increased its stake in Phillips 66 by 6.7% in the third quarter. Atlantic Trust Group LLC now owns 37,190 shares of the oil and gas company’s stock valued at $3,407,000 after purchasing an additional 2,336 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Phillips 66 by 6.2% in the third quarter. Parametric Portfolio Associates LLC now owns 1,499,115 shares of the oil and gas company’s stock valued at $137,334,000 after purchasing an additional 88,106 shares during the last quarter. AXA increased its stake in Phillips 66 by 2.0% in the third quarter. AXA now owns 123,069 shares of the oil and gas company’s stock valued at $11,275,000 after purchasing an additional 2,443 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Phillips 66 by 208.1% in the third quarter. Chicago Partners Investment Group LLC now owns 2,785 shares of the oil and gas company’s stock valued at $255,000 after purchasing an additional 1,881 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in Phillips 66 in the third quarter valued at approximately $4,826,000. 70.12% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on PSX. Morgan Stanley reiterated an “equal weight” rating on shares of Phillips 66 in a research note on Thursday. Credit Suisse Group started coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price on the stock. Barclays restated a “sell” rating and set a $111.00 target price on shares of Phillips 66 in a research report on Wednesday. Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $96.66.
Phillips 66 (PSX) traded up $2.60 during trading on Friday, reaching $104.97. The company’s stock had a trading volume of 1,849,280 shares, compared to its average volume of 1,360,888. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $105.09. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $52,363.36, a P/E ratio of 26.31, a P/E/G ratio of 1.59 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company 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 quarter last year, the company earned $1.05 earnings per share. equities analysts anticipate that Phillips 66 will post 4.43 EPS for the current fiscal year.
Phillips 66 declared that its board has initiated a stock repurchase program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.
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Phillips 66 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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