Lau Associates LLC raised its position in Phillips 66 (NYSE:PSX) by 17.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,220 shares of the oil and gas company’s stock after purchasing an additional 6,300 shares during the period. Phillips 66 comprises approximately 2.8% of Lau Associates LLC’s portfolio, making the stock its 8th biggest holding. Lau Associates LLC’s holdings in Phillips 66 were worth $4,872,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Acropolis Investment Management LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at $106,000. Tuttle Tactical Management purchased a new stake in shares of Phillips 66 in the second quarter valued at $107,000. Baker Ellis Asset Management LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at $111,000. Kaizen Advisory LLC lifted its position in shares of Phillips 66 by 144.3% in the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 593 shares in the last quarter. Finally, Omnia Family Wealth LLC lifted its position in shares of Phillips 66 by 3,040.6% in the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 973 shares in the last quarter. 69.47% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on PSX. Citigroup upped their price objective on Phillips 66 from $126.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, September 7th. Mizuho started coverage on Phillips 66 in a research report on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price objective on the stock. ValuEngine downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Finally, Morgan Stanley increased their target price on Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $115.84.
NYSE PSX traded down $0.06 during trading hours on Friday, hitting $109.40. 121,433 shares of the company’s stock were exchanged, compared to its average volume of 2,415,246. Phillips 66 has a 12-month low of $89.14 and a 12-month high of $123.97. The company has a market capitalization of $52.33 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.64. The company had revenue of $29.74 billion during the quarter, compared to analyst estimates of $29.40 billion. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. During the same period in the prior year, the firm posted $1.09 earnings per share. Equities analysts predict that Phillips 66 will post 7.85 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 annualized dividend and a yield of 2.93%. Phillips 66’s dividend payout ratio is presently 73.06%.
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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