Great Lakes Advisors LLC reduced its stake in Phillips 66 (NYSE:PSX) by 95.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,217 shares of the oil and gas company’s stock after selling 146,910 shares during the quarter. Great Lakes Advisors LLC’s holdings in Phillips 66 were worth $814,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of PSX. BlackRock Inc. increased its stake in Phillips 66 by 13.6% in the third quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock valued at $3,731,461,000 after purchasing an additional 3,956,900 shares during the last quarter. FMR LLC increased its stake in Phillips 66 by 9.0% in the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after purchasing an additional 1,188,567 shares during the last quarter. LSV Asset Management increased its stake in Phillips 66 by 208.6% in the third quarter. LSV Asset Management now owns 1,625,684 shares of the oil and gas company’s stock valued at $183,247,000 after purchasing an additional 1,098,869 shares during the last quarter. Prudential Financial Inc. increased its stake in Phillips 66 by 105.8% in the third quarter. Prudential Financial Inc. now owns 1,951,639 shares of the oil and gas company’s stock valued at $219,989,000 after purchasing an additional 1,003,240 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Phillips 66 in the third quarter valued at $110,916,000. Institutional investors and hedge funds own 69.24% of the company’s stock.
In other Phillips 66 news, Director J Brian Ferguson bought 21,500 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were purchased at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is owned by company insiders.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.60. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. The business had revenue of $30.59 billion for the quarter, compared to analysts’ expectations of $28.50 billion. During the same period in the prior year, the firm earned $1.66 EPS. On average, research analysts forecast that Phillips 66 will post 8.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, November 16th. Phillips 66’s dividend payout ratio is currently 73.06%.
Several equities analysts recently commented on the company. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Tuesday, November 20th. JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Raymond James decreased their target price on Phillips 66 from $139.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $122.19.
Phillips 66 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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