Hartford Financial Management Inc. decreased its holdings in Phillips 66 (NYSE:PSX) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 20,087 shares of the oil and gas company’s stock after selling 887 shares during the quarter. Hartford Financial Management Inc.’s holdings in Phillips 66 were worth $2,264,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of PSX. SevenBridge Financial Group LLC raised its position in shares of Phillips 66 by 2.2% during the second quarter. SevenBridge Financial Group LLC now owns 20,083 shares of the oil and gas company’s stock worth $2,256,000 after acquiring an additional 435 shares during the last quarter. M Holdings Securities Inc. raised its position in shares of Phillips 66 by 19.7% during the second quarter. M Holdings Securities Inc. now owns 2,670 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 439 shares during the last quarter. CX Institutional grew its stake in shares of Phillips 66 by 3.4% during the third quarter. CX Institutional now owns 13,250 shares of the oil and gas company’s stock worth $1,494,000 after purchasing an additional 440 shares during the period. Capital Investment Advisors LLC grew its stake in shares of Phillips 66 by 11.8% during the second quarter. Capital Investment Advisors LLC now owns 4,223 shares of the oil and gas company’s stock worth $474,000 after purchasing an additional 445 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Phillips 66 by 33.6% during the second quarter. Captrust Financial Advisors now owns 1,820 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.
NYSE:PSX traded up $0.51 on Friday, reaching $103.01. The company’s stock had a trading volume of 240,476 shares, compared to its average volume of 3,091,033. Phillips 66 has a 1-year low of $89.14 and a 1-year high of $123.97. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. The stock has a market cap of $47.06 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.39 and a beta of 1.00.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.60. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. The firm had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. Sell-side analysts forecast that Phillips 66 will post 8.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a yield of 3.11%. Phillips 66’s payout ratio is 73.06%.
A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price objective for the company in a research note on Tuesday. They noted that the move was a valuation call. Raymond James decreased their price objective on Phillips 66 from $139.00 to $135.00 and set an “outperform” rating for the company in a research note on Monday. Wells Fargo & Co lifted their price objective on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective for the company in a research note on Tuesday, October 16th. Finally, Barclays raised Phillips 66 from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $133.00 to $128.00 in a research note on Wednesday, October 3rd. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Phillips 66 presently has an average rating of “Hold” and an average price target of $121.79.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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