Investors Buy Shares of Phillips 66 (PSX) on Weakness

Traders bought shares of Phillips 66 (NYSE:PSX) on weakness during trading on Thursday. $35.91 million flowed into the stock on the tick-up and $21.77 million flowed out of the stock on the tick-down, for a money net flow of $14.14 million into the stock. Of all equities tracked, Phillips 66 had the 29th highest net in-flow for the day. Phillips 66 traded down ($0.10) for the day and closed at $101.96

Several equities analysts have recently weighed in on the company. Barclays set a $95.00 price target on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target on the stock in a report on Monday, October 16th. Jefferies Group reissued a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Phillips 66 has a consensus rating of “Hold” and an average target price of $94.14.

The company has a market capitalization of $52,153.64, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same period last year, the firm earned $1.05 EPS. equities analysts expect that Phillips 66 will post 4.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, October 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. Phillips 66’s dividend payout ratio is currently 70.18%.

Phillips 66 declared that its Board of Directors has approved a share buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the transaction, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Motco increased its stake in Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth $112,000. Ffcm LLC purchased a new stake in Phillips 66 in the 2nd quarter worth $113,000. Meeder Asset Management Inc. purchased a new stake in Phillips 66 in the 2nd quarter worth $116,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Phillips 66 in the 2nd quarter worth $127,000. Institutional investors and hedge funds own 70.12% of the company’s stock.

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About Phillips 66

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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