Parallel Advisors LLC lifted its stake in Phillips 66 (NYSE:PSX) by 50.0% during the 3rd quarter, Holdings Channel reports. The fund owned 10,941 shares of the oil and gas company’s stock after buying an additional 3,647 shares during the period. Parallel Advisors LLC’s holdings in Phillips 66 were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Phillips 66 by 8.1% during the second quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock worth $3,273,487,000 after buying an additional 2,194,280 shares in the last quarter. FMR LLC boosted its stake in Phillips 66 by 9.0% during the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after buying an additional 1,188,567 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Phillips 66 by 11,191.1% during the second quarter. Cornerstone Wealth Management LLC now owns 887,030 shares of the oil and gas company’s stock worth $8,019,000 after buying an additional 879,174 shares in the last quarter. American Century Companies Inc. acquired a new stake in Phillips 66 during the second quarter worth $89,215,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Phillips 66 by 2,132.6% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 690,015 shares of the oil and gas company’s stock worth $77,778,000 after buying an additional 659,108 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.
Shares of NYSE PSX opened at $99.01 on Friday. The firm has a market cap of $47.41 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.40 and a beta of 0.99. Phillips 66 has a 52-week low of $89.14 and a 52-week high of $123.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.60. The company had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same period last year, the business earned $1.66 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 8.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued 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 dividend yield of 3.23%. Phillips 66’s dividend payout ratio is 73.06%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Wednesday, August 1st. Mizuho assumed coverage on shares of Phillips 66 in a research note on Wednesday, August 1st. They set a “neutral” rating and a $124.00 price target on the stock. Citigroup lifted their price target on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Finally, Barclays raised Phillips 66 from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $133.00 to $128.00 in a report on Wednesday, October 3rd. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $121.79.
About Phillips 66
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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