Panagora Asset Management Inc. lifted its position in shares of Phillips 66 (NYSE:PSX) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,844 shares of the oil and gas company’s stock after acquiring an additional 5,596 shares during the quarter. Panagora Asset Management Inc.’s holdings in Phillips 66 were worth $4,604,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Montag A & Associates Inc. boosted its stake in shares of Phillips 66 by 10.5% during the second quarter. Montag A & Associates Inc. now owns 5,002 shares of the oil and gas company’s stock valued at $562,000 after purchasing an additional 477 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of Phillips 66 by 1,112.2% during the second quarter. Fiera Capital Corp now owns 35,250 shares of the oil and gas company’s stock valued at $3,959,000 after purchasing an additional 32,342 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Phillips 66 by 130.0% during the second quarter. Jennison Associates LLC now owns 5,071 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 2,866 shares in the last quarter. Barings LLC boosted its stake in shares of Phillips 66 by 163.6% during the second quarter. Barings LLC now owns 12,583 shares of the oil and gas company’s stock valued at $1,413,000 after purchasing an additional 7,809 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of Phillips 66 during the second quarter valued at about $207,000. Institutional investors and hedge funds own 69.25% of the company’s stock.
Phillips 66 stock opened at $90.35 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $42.70 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.23 and a beta of 0.95. Phillips 66 has a one year low of $88.99 and a one year high of $123.97.
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. The company had revenue of $30.59 billion for the quarter, compared to analyst estimates of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same period in the previous year, the firm earned $1.66 earnings per share. Equities analysts predict that Phillips 66 will post 8.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Friday, November 16th. Phillips 66’s dividend payout ratio is currently 73.06%.
PSX has been the topic of a number of recent research reports. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Citigroup lifted their price target on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 15th. ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Barclays raised Phillips 66 from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $133.00 to $128.00 in a research note on Wednesday, October 3rd. Finally, Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective on the stock in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $122.19.
In related news, Director J Brian Ferguson acquired 21,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were bought at an average cost of $92.31 per share, with a total value of $1,984,665.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.
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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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