Gulf International Bank UK Ltd increased its stake in shares of Phillips 66 (NYSE:PSX) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,064 shares of the oil and gas company’s stock after purchasing an additional 12,099 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Phillips 66 were worth $17,478,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $106,000. Capital Advisors Ltd. LLC boosted its position in shares of Phillips 66 by 152.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 570 shares in the last quarter. Tuttle Tactical Management acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $107,000. Baker Ellis Asset Management LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $111,000. Finally, Kaizen Advisory LLC boosted its position in shares of Phillips 66 by 144.3% during the 2nd quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 593 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on PSX shares. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Tuesday, September 11th. Barclays raised Phillips 66 from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $133.00 to $128.00 in a research report on Wednesday, October 3rd. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Morgan Stanley upped their target price on Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Finally, Wells Fargo & Co upped their target price on Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $121.79.
PSX opened at $100.52 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $45.66 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.35 and a beta of 0.99. Phillips 66 has a 52 week low of $89.14 and a 52 week high of $123.97.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.60. The firm had revenue of $30.59 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $1.66 EPS. On average, equities research analysts expect that Phillips 66 will post 8.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 73.06%.
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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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