Papp L Roy & Associates Acquires New Position in Phillips 66 (NYSE:PSX)

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Papp L Roy & Associates acquired a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,018 shares of the oil and gas company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Nuveen Asset Management LLC grew its holdings in Phillips 66 by 3,861.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock worth $350,288,000 after acquiring an additional 3,650,256 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Phillips 66 by 19.7% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its holdings in Phillips 66 by 3.3% during the 2nd 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 in the last quarter. Waddell & Reed Financial Inc. grew its holdings in Phillips 66 by 248.3% during the 2nd 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 in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Phillips 66 by 126.5% during the 2nd quarter. First Trust Advisors LP now owns 1,421,214 shares of the oil and gas company’s stock worth $132,940,000 after buying an additional 793,875 shares during the last quarter. Institutional investors own 69.33% of the company’s stock.

In related news, EVP Robert A. Herman sold 47,433 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on the stock. Cowen boosted their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Co boosted their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Scotiabank assumed coverage on shares of Phillips 66 in a research report on Tuesday, September 3rd. They set an “outperform” rating for the company. Finally, Raymond James boosted their price objective on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $118.80.

Shares of NYSE:PSX traded up $0.13 during trading on Friday, hitting $119.70. 1,556,669 shares of the company were exchanged, compared to its average volume of 2,631,109. The stock has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a PEG ratio of 2.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 0.84. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $119.92. The firm’s 50 day moving average price is $108.48 and its 200-day moving average price is $97.69.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter in the prior year, the firm earned $3.10 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 8.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 annualized dividend and a yield of 3.01%. Phillips 66’s dividend payout ratio (DPR) is 30.74%.

About Phillips 66

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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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