North Star Asset Management Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 16.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,240 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. North Star Asset Management Inc.’s holdings in Phillips 66 were worth $591,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of PSX. YHB Investment Advisors Inc. raised its position in Phillips 66 by 34.1% in the 3rd quarter. YHB Investment Advisors Inc. now owns 3,674 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 935 shares during the last quarter. Alethea Capital Management LLC purchased a new stake in Phillips 66 in the 3rd quarter valued at $2,484,000. Cullen Frost Bankers Inc. raised its position in Phillips 66 by 8.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 14,364 shares of the oil and gas company’s stock valued at $1,620,000 after buying an additional 1,073 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Phillips 66 by 63.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 187,560 shares of the oil and gas company’s stock valued at $21,142,000 after buying an additional 72,499 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd raised its position in Phillips 66 by 155.2% in the 3rd quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,400 shares of the oil and gas company’s stock valued at $834,000 after buying an additional 4,500 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors.
A number of research firms recently commented on PSX. Citigroup increased their price target on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. Mizuho began coverage on Phillips 66 in a research report on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price target for the company. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Wednesday, August 1st. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price target for the company in a research report on Tuesday, October 16th. Finally, JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating in a research report on Tuesday. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $121.45.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.60. The firm had revenue of $30.59 billion during the quarter, compared to the consensus estimate of $28.50 billion. Phillips 66 had a return on equity of 15.01% and a net margin of 5.72%. During the same quarter in the prior year, the company earned $1.66 EPS. On average, equities analysts forecast that Phillips 66 will post 8.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a yield of 3.25%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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