Gamco Investors INC. ET AL raised its holdings in Phillips 66 (NYSE:PSX) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,401 shares of the oil and gas company’s stock after purchasing an additional 4,549 shares during the period. Gamco Investors INC. ET AL’s holdings in Phillips 66 were worth $7,485,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. grew its holdings in Phillips 66 by 8.1% in the second quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock valued at $3,273,487,000 after purchasing an additional 2,194,280 shares during the period. FMR LLC grew its holdings in Phillips 66 by 9.0% in the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after purchasing an additional 1,188,567 shares during the period. Wells Fargo & Company MN grew its holdings in Phillips 66 by 0.5% in the third quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock valued at $954,557,000 after purchasing an additional 39,493 shares during the period. Northern Trust Corp grew its holdings in Phillips 66 by 4.2% in the second quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock valued at $618,420,000 after purchasing an additional 221,487 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Phillips 66 by 3.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,490,228 shares of the oil and gas company’s stock valued at $167,368,000 after purchasing an additional 54,190 shares during the period. 70.10% of the stock is currently owned by institutional investors.
Several analysts have commented on the company. Citigroup raised their price objective on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Mizuho started coverage on Phillips 66 in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price target on the stock. Zacks Investment Research raised 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. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price target on the stock in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price target on the stock in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $121.79.
NYSE PSX opened at $99.74 on Friday. The firm has a market cap of $45.50 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.35 and a beta of 0.99. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. Phillips 66 has a fifty-two week low of $89.14 and a fifty-two week high of $123.97.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.60. The company had revenue of $30.59 billion for the quarter, compared to analyst estimates of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same quarter in the previous year, the company posted $1.66 earnings per share. Equities analysts anticipate that Phillips 66 will post 8.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders 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 yield of 3.21%. The ex-dividend date is Friday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 73.06%.
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Phillips 66 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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