Supplemental Annuity Collective Trust of NJ lowered its stake in Phillips 66 (NYSE:PSX) by 64.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,000 shares of the oil and gas company’s stock after selling 9,000 shares during the period. Supplemental Annuity Collective Trust of NJ’s holdings in Phillips 66 were worth $458,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the business. Korea Investment CORP boosted its position in shares of Phillips 66 by 54.8% during the 3rd quarter. Korea Investment CORP now owns 193,853 shares of the oil and gas company’s stock worth $17,759,000 after acquiring an additional 68,600 shares in the last quarter. Aperio Group LLC boosted its position in shares of Phillips 66 by 2.8% during the 3rd quarter. Aperio Group LLC now owns 245,135 shares of the oil and gas company’s stock worth $22,457,000 after acquiring an additional 6,753 shares in the last quarter. Davis R M Inc. boosted its position in shares of Phillips 66 by 1.2% during the 3rd quarter. Davis R M Inc. now owns 404,889 shares of the oil and gas company’s stock worth $37,092,000 after acquiring an additional 4,741 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Phillips 66 by 19.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 21,563 shares of the oil and gas company’s stock worth $1,975,000 after acquiring an additional 3,503 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Phillips 66 by 7.7% during the 3rd quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after acquiring an additional 24,318 shares in the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.
Phillips 66 (NYSE PSX) opened at $92.83 on Wednesday. The company has a market cap of $47,734.18, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.20. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $95.00.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The firm had revenue of $26.21 billion during the quarter, compared to analyst estimates of $29.94 billion. During the same period in the previous year, the business posted $1.05 EPS. sell-side analysts expect that Phillips 66 will post 4.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 3.02%. Phillips 66’s dividend payout ratio (DPR) is presently 70.18%.
Phillips 66 announced that its Board of Directors has approved a stock buyback plan on Monday, October 9th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.
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PSX has been the subject of several research reports. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Vetr downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price target for the company. in a research note on Thursday, November 2nd. Jefferies Group LLC downgraded shares of Phillips 66 from a “hold” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $75.14 in a research note on Monday, October 16th. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research note on Tuesday, August 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $91.00 price objective (up from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $93.33.
Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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