Greylin Investment Mangement Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX) by 32.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,015 shares of the oil and gas company’s stock after selling 2,430 shares during the period. Greylin Investment Mangement Inc.’s holdings in Phillips 66 were worth $514,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PSX. Nuveen Asset Management LLC lifted its position in Phillips 66 by 3,861.0% during the second quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock valued at $350,288,000 after purchasing an additional 3,650,256 shares during the period. Wells Fargo & Company MN raised its position in Phillips 66 by 19.7% in the second quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock worth $1,016,170,000 after acquiring an additional 1,790,537 shares during the period. AQR Capital Management LLC raised its position in Phillips 66 by 54.9% in the first quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock worth $315,479,000 after acquiring an additional 1,181,277 shares during the period. Vanguard Group Inc. raised its position in Phillips 66 by 3.3% in the second quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock worth $3,409,691,000 after acquiring an additional 1,172,468 shares during the period. Finally, Waddell & Reed Financial Inc. raised its position in Phillips 66 by 248.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,511,127 shares of the oil and gas company’s stock worth $141,351,000 after acquiring an additional 1,077,246 shares during the period. Institutional investors own 68.71% of the company’s stock.
Several research analysts have weighed in on PSX shares. Evercore ISI started coverage on shares of Phillips 66 in a research report on Wednesday, October 2nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Macquarie started coverage on shares of Phillips 66 in a research report on Thursday, September 5th. They issued an “outperform” rating on the stock. Finally, Raymond James increased their price target on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Phillips 66 currently has an average rating of “Buy” and an average target price of $113.80.
In other news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Shares of NYSE PSX traded up $0.91 during midday trading on Friday, reaching $107.51. The stock had a trading volume of 1,251,612 shares, compared to its average volume of 2,619,805. The stock has a 50-day moving average of $100.93 and a 200-day moving average of $95.32. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $112.60.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The firm had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same period in the prior year, the company posted $2.80 earnings per share. As a group, analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.90 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.35%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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