South Texas Money Management Ltd. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,212 shares of the oil and gas company’s stock after purchasing an additional 596 shares during the period. South Texas Money Management Ltd.’s holdings in Phillips 66 were worth $496,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Phillips 66 by 3,775.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock worth $54,000 after buying an additional 4,527,183 shares during the last quarter. Norges Bank purchased a new position in shares of Phillips 66 in the 4th quarter worth $386,757,000. LSV Asset Management boosted its stake in shares of Phillips 66 by 96.9% in the 4th quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock worth $275,803,000 after buying an additional 1,575,744 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Phillips 66 by 7.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock worth $1,175,542,000 after buying an additional 958,545 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Phillips 66 by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after buying an additional 885,979 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
In related news, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.
PSX has been the topic of a number of research reports. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Raymond James dropped their price target on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, December 31st. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Citigroup raised their price target on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $120.18.
Shares of Phillips 66 stock opened at $95.98 on Wednesday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The firm has a market capitalization of $43.73 billion, a P/E ratio of 8.20, a P/E/G ratio of 1.43 and a beta of 0.94. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, topping the Zacks’ consensus estimate of $2.76 by $2.11. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. The company had revenue of $29.84 billion for the quarter, compared to analysts’ expectations of $35.51 billion. During the same period last year, the firm earned $1.07 EPS. As a group, analysts forecast that Phillips 66 will post 7.92 earnings per share for the current year.
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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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