Cypress Capital Group increased its holdings in Phillips 66 (NYSE:PSX) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,917 shares of the oil and gas company’s stock after buying an additional 390 shares during the period. Cypress Capital Group’s holdings in Phillips 66 were worth $1,938,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock worth $3,409,691,000 after purchasing an additional 1,172,468 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Phillips 66 by 19.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock worth $1,016,170,000 after purchasing an additional 1,790,537 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Phillips 66 by 10.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,882,918 shares of the oil and gas company’s stock worth $448,008,000 after purchasing an additional 463,870 shares in the last quarter. LSV Asset Management lifted its stake in Phillips 66 by 2.4% in the 2nd quarter. LSV Asset Management now owns 4,701,505 shares of the oil and gas company’s stock worth $439,778,000 after purchasing an additional 112,310 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Phillips 66 by 3,861.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock worth $350,288,000 after purchasing an additional 3,650,256 shares in the last quarter. 68.71% of the stock is owned by institutional investors.
Shares of Phillips 66 stock traded up $3.89 on Thursday, hitting $106.60. 3,639,907 shares of the company traded hands, compared to its average volume of 2,635,267. The firm’s 50-day simple moving average is $100.80 and its 200 day simple moving average is $95.27. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The company has a market cap of $46.07 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.08 and a beta of 1.07. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $118.10.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same quarter last year, the firm earned $2.80 EPS. Analysts predict that Phillips 66 will post 7.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio is currently 30.74%.
In related news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.
Several research firms have issued reports on PSX. Scotiabank began coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Cowen raised their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Evercore ISI assumed coverage on shares of Phillips 66 in a research report on Wednesday, October 2nd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $113.80.
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; 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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