Phillips 66 (PSX) Position Increased by Energy Opportunities Capital Management LLC

Energy Opportunities Capital Management LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,225 shares of the oil and gas company’s stock after buying an additional 4,005 shares during the period. Phillips 66 accounts for 3.8% of Energy Opportunities Capital Management LLC’s holdings, making the stock its 8th biggest position. Energy Opportunities Capital Management LLC’s holdings in Phillips 66 were worth $2,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC raised its position in Phillips 66 by 28.9% during the third quarter. Jennison Associates LLC now owns 6,534 shares of the oil and gas company’s stock worth $737,000 after acquiring an additional 1,463 shares during the period. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock valued at $724,735,000 after buying an additional 36,370 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Phillips 66 by 513.4% in the third quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock valued at $1,874,000 after buying an additional 13,912 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Phillips 66 by 22.1% in the third quarter. Canada Pension Plan Investment Board now owns 21,010 shares of the oil and gas company’s stock valued at $2,368,000 after buying an additional 3,800 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of Phillips 66 by 2.9% in the third quarter. Westpac Banking Corp now owns 38,186 shares of the oil and gas company’s stock valued at $4,304,000 after buying an additional 1,081 shares during the last quarter. 71.17% of the stock is currently owned by hedge funds and other institutional investors.

NYSE PSX opened at $95.86 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.41. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The company has a market capitalization of $43.66 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $2.11. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. The business had revenue of $29.84 billion during the quarter, compared to analyst estimates of $35.51 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Equities research analysts anticipate that Phillips 66 will post 8.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, February 15th. Phillips 66’s payout ratio is 27.33%.

In other news, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

PSX has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, November 26th. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Raymond James reduced their target price on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, December 31st. Piper Jaffray Companies reiterated an “overweight” rating on shares of Phillips 66 in a research report on Thursday, January 10th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $120.27.

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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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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

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