Kayne Anderson Capital Advisors LP lowered its position in shares of Phillips 66 (NYSE:PSX) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 299,700 shares of the oil and gas company’s stock after selling 24,400 shares during the quarter. Kayne Anderson Capital Advisors LP owned about 0.07% of Phillips 66 worth $30,682,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $25,000. Atwater Malick LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $27,000. TRUE Private Wealth Advisors acquired a new stake in shares of Phillips 66 during the second quarter worth $26,000. Manchester Financial Inc. acquired a new position in Phillips 66 in the second quarter valued at about $32,000. Finally, Coastal Capital Group Inc. acquired a new position in Phillips 66 in the second quarter valued at about $37,000. 69.33% of the stock is owned by institutional investors.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.
PSX stock traded up $0.13 during midday trading on Friday, reaching $119.70. The company had a trading volume of 1,577,557 shares, compared to its average volume of 2,631,109. The company has a market capitalization of $52.84 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The stock has a 50 day moving average price of $108.48 and a 200-day moving average price of $97.69. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.92. 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 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.51. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter in the previous year, the firm earned $3.10 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 8.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio is presently 30.74%.
A number of research analysts recently commented on PSX shares. Evercore ISI started coverage on Phillips 66 in a research note on Wednesday, October 2nd. They issued an “outperform” rating for the company. Wells Fargo & Co boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Cowen boosted their price target on Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Tuesday, October 29th. Finally, Morgan Stanley boosted their price target on Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.80.
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; 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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