Stifel Financial Corp lessened its stake in Phillips 66 (NYSE:PSX) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 482,809 shares of the oil and gas company’s stock after selling 16,840 shares during the period. Stifel Financial Corp owned approximately 0.09% of Phillips 66 worth $44,134,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of PSX. BlackRock Inc. grew its position in shares of Phillips 66 by 2,329.3% during the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after acquiring an additional 26,676,647 shares during the period. FMR LLC grew its position in shares of Phillips 66 by 37.1% during the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after acquiring an additional 2,036,258 shares during the period. Clearbridge Investments LLC grew its position in shares of Phillips 66 by 4,771.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after acquiring an additional 1,396,918 shares during the period. New England Asset Management Inc. bought a new stake in shares of Phillips 66 during the 1st quarter valued at $104,095,000. Finally, State Street Corp grew its position in shares of Phillips 66 by 4.0% during the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares during the period. 70.24% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on PSX shares. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Jefferies Group reissued a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 5th. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a research report on Friday, September 8th. Piper Jaffray Companies reissued a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Finally, Howard Weil raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $93.25.
Phillips 66 (PSX) traded up $0.72 on Monday, hitting $98.29. 891,555 shares of the company were exchanged, compared to its average volume of 2,208,290. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $98.16. The stock has a market cap of $49,908.11, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The company had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the company earned $1.05 EPS. equities research analysts anticipate that Phillips 66 will post 4.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, October 17th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 70.18%.
Phillips 66 announced that its Board of Directors has approved a stock repurchase program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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Phillips 66 Company 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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