Nisa Investment Advisors LLC grew its stake in Phillips 66 (NYSE:PSX) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,837 shares of the oil and gas company’s stock after purchasing an additional 5,284 shares during the period. Nisa Investment Advisors LLC’s holdings in Phillips 66 were worth $23,450,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Institute for Wealth Management LLC. acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $979,000. Blue Edge Capital LLC boosted its stake in shares of Phillips 66 by 3.2% in the 2nd quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 160 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after purchasing an additional 71,098 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Phillips 66 by 3.5% in the 2nd quarter. Great Lakes Advisors LLC now owns 603,678 shares of the oil and gas company’s stock valued at $49,919,000 after purchasing an additional 20,264 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Phillips 66 by 7.7% in the 3rd quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock valued at $31,039,000 after purchasing an additional 24,318 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.
A number of equities research analysts have recently weighed in on PSX shares. Cowen restated a “buy” rating and issued a $101.00 price target on shares of Phillips 66 in a research note on Tuesday, October 17th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, October 10th. Goldman Sachs Group upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $109.00 in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $98.00 target price on shares of Phillips 66 in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Phillips 66 presently has an average rating of “Hold” and an average price target of $96.66.
Phillips 66 (NYSE PSX) traded up $0.29 during trading hours on Friday, reaching $102.37. 1,358,600 shares of the company traded hands, compared to its average volume of 1,318,375. The firm has a market cap of $53,180.00, a P/E ratio of 25.79, a PEG ratio of 1.62 and a beta of 1.24. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $102.80. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the previous year, the company earned $1.05 EPS. equities analysts predict that Phillips 66 will post 4.5 earnings per share for the current fiscal year.
Phillips 66 declared that its Board of Directors has initiated a share buyback program on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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