Los Angeles Capital Management & Equity Research Inc. lifted its position in Phillips 66 (NYSE:PSX) by 43.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,826 shares of the oil and gas company’s stock after buying an additional 46,970 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Phillips 66 were worth $17,565,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd boosted its stake in Phillips 66 by 16.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,215 shares of the oil and gas company’s stock worth $2,617,000 after purchasing an additional 3,268 shares during the period. Sei Investments Co. boosted its stake in Phillips 66 by 14.7% in the 2nd quarter. Sei Investments Co. now owns 152,841 shares of the oil and gas company’s stock worth $17,166,000 after purchasing an additional 19,537 shares during the period. First Republic Investment Management Inc. boosted its stake in Phillips 66 by 17.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 130,687 shares of the oil and gas company’s stock worth $14,678,000 after purchasing an additional 19,279 shares during the period. Bank of Nova Scotia boosted its stake in Phillips 66 by 145.4% in the 2nd quarter. Bank of Nova Scotia now owns 299,701 shares of the oil and gas company’s stock worth $33,659,000 after purchasing an additional 177,556 shares during the period. Finally, Northern Trust Corp boosted its stake in Phillips 66 by 4.2% in the 2nd quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock worth $618,420,000 after purchasing an additional 221,487 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.
Phillips 66 stock opened at $99.74 on Friday. Phillips 66 has a one year low of $89.14 and a one year high of $123.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82. The stock has a market cap of $47.55 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.60. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. The company had revenue of $30.59 billion during the quarter, compared to the consensus estimate of $28.50 billion. During the same period in the prior year, the business posted $1.66 EPS. On average, sell-side analysts expect that Phillips 66 will post 8.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.21%. Phillips 66’s dividend payout ratio is 73.06%.
A number of equities analysts recently weighed in on PSX shares. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Tuesday, September 11th. Wells Fargo & Co upped their target price on shares of Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Morgan Stanley upped their target price on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Barclays raised shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $133.00 to $128.00 in a research note on Wednesday, October 3rd. Finally, ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $121.79.
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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, 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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