Keybank National Association OH cut its holdings in shares of Phillips 66 (NYSE:PSX) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 357,278 shares of the oil and gas company’s stock after selling 4,724 shares during the quarter. Keybank National Association OH owned 0.08% of Phillips 66 worth $36,585,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its position in shares of Phillips 66 by 12.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 852 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 93 shares during the last quarter. Somerset Trust Co increased its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Somerset Trust Co now owns 18,425 shares of the oil and gas company’s stock valued at $1,887,000 after purchasing an additional 98 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Phillips 66 by 2.5% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,064 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 100 shares during the last quarter. Heritage Wealth Advisors increased its position in shares of Phillips 66 by 25.2% in the 3rd quarter. Heritage Wealth Advisors now owns 502 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 101 shares during the last quarter. Finally, Montecito Bank & Trust increased its position in shares of Phillips 66 by 4.1% in the 2nd quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 69.33% of the company’s stock.
A number of equities research analysts have commented on PSX shares. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, October 29th. Morgan Stanley increased their price objective on shares of Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Cowen increased their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Raymond James increased their target price on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $118.80.
Shares of NYSE PSX traded up $0.15 during mid-day trading on Friday, reaching $119.72. The company had a trading volume of 988,569 shares, compared to its average volume of 2,719,108. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $108.14 and a two-hundred day simple moving average of $97.57. The stock has a market cap of $52.84 billion, a P/E ratio of 10.22, a PEG ratio of 2.11 and a beta of 1.10. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $119.89.
Phillips 66 (NYSE:PSX) last posted its 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. The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same period last year, the firm posted $3.10 EPS. On average, equities analysts expect that Phillips 66 will post 8.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.90 per share. 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 currently 30.74%.
In related news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.
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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