Bartlett & Co. LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 355.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,117 shares of the oil and gas company’s stock after acquiring an additional 11,798 shares during the quarter. Bartlett & Co. LLC’s holdings in Phillips 66 were worth $1,548,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can increased its position in Phillips 66 by 9.4% during the 2nd quarter. Bank of Montreal Can now owns 852,142 shares of the oil and gas company’s stock worth $79,710,000 after purchasing an additional 73,004 shares in the last quarter. First Merchants Corp increased its position in Phillips 66 by 13.5% during the 2nd quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock worth $1,665,000 after purchasing an additional 2,117 shares in the last quarter. Mitchell Capital Management Co. increased its position in Phillips 66 by 23.4% during the 2nd quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock worth $1,678,000 after purchasing an additional 3,405 shares in the last quarter. Copeland Capital Management LLC increased its position in Phillips 66 by 44.1% during the 2nd quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock worth $4,227,000 after purchasing an additional 13,840 shares in the last quarter. Finally, Baxter Bros Inc. increased its position in Phillips 66 by 8.7% during the 2nd quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock worth $1,247,000 after purchasing an additional 1,070 shares in the last quarter. 69.33% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. Wells Fargo & Co increased their target price on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Raymond James increased their target price on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank assumed coverage on shares of Phillips 66 in a research report on Tuesday, September 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Finally, Morgan Stanley upped their price target on Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Phillips 66 has an average rating of “Buy” and a consensus target price of $118.80.
NYSE PSX opened at $119.70 on Friday. The stock has a market cap of $52.84 billion, a PE ratio of 10.22, a P/E/G ratio of 2.11 and a beta of 1.10. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $119.92. The business has a 50 day moving average price of $108.48 and a two-hundred day moving average price of $97.69. The company has a quick ratio of 0.84, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.51. The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same quarter in the prior year, the business earned $3.10 EPS. Sell-side analysts anticipate that Phillips 66 will post 8.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued 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%.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.
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; 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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