Prudential Financial Inc. Has $64.32 Million Stake in Phillips 66 (NYSE:PSX)

Prudential Financial Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 702,075 shares of the oil and gas company’s stock after selling 61,950 shares during the period. Prudential Financial Inc. owned 0.14% of Phillips 66 worth $64,318,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Motco lifted its stake in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 50 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $112,000. Ffcm LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $113,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $127,000. Finally, FTB Advisors Inc. lifted its stake in shares of Phillips 66 by 112.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 780 shares during the period. 70.12% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on PSX shares. Barclays lowered shares of Phillips 66 from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $95.00 to $100.00 in a research note on Tuesday, November 14th. Goldman Sachs Group raised shares of Phillips 66 to a “buy” rating in a research note on Monday, December 18th. US Capital Advisors lowered shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday, December 4th. Credit Suisse Group assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price for the company. Finally, Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, October 10th. 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. The company presently has an average rating of “Hold” and a consensus price target of $99.55.

Phillips 66 (NYSE PSX) traded up $2.42 during mid-day trading on Friday, hitting $106.59. 2,650,000 shares of the stock were exchanged, compared to its average volume of 1,660,000. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $107.47. 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 $54,010.00, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.53 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last released 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 business had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the previous year, the business earned $1.05 earnings per share. equities research analysts predict that Phillips 66 will post 4.19 EPS for the current fiscal year.

Phillips 66 declared that its board has authorized a stock buyback plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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