Principle Wealth Partners LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 874.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,244 shares of the oil and gas company’s stock after purchasing an additional 23,551 shares during the quarter. Phillips 66 comprises approximately 0.9% of Principle Wealth Partners LLC’s portfolio, making the stock its 26th biggest holding. Principle Wealth Partners LLC’s holdings in Phillips 66 were worth $2,687,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PSX. Advisors Preferred LLC bought a new position in shares of Phillips 66 in the second quarter valued at approximately $25,000. Atwater Malick LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $27,000. TRUE Private Wealth Advisors bought a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. Manchester Financial Inc. bought a new position in shares of Phillips 66 in the second quarter valued at approximately $32,000. Finally, Coastal Capital Group Inc. bought a new position in shares of Phillips 66 in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 69.33% of the company’s stock.
A number of research firms have recently commented on PSX. Cowen raised 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. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Macquarie initiated coverage on shares of Phillips 66 in a research report on Thursday, September 5th. They set an “outperform” rating for the company. Raymond James lifted 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. Finally, Wells Fargo & Co lifted their target price on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.80.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.
Shares of PSX stock traded up $0.13 during trading hours on Friday, hitting $119.70. 1,556,669 shares of the company’s stock were exchanged, compared to its average volume of 2,631,109. The company has a market capitalization of $52.84 billion, a PE ratio of 10.22, a PEG ratio of 2.11 and a beta of 1.10. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $119.92. The business’s 50 day simple moving average is $108.48 and its 200-day simple moving average is $97.69. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.
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, topping the 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 earnings per share. Equities analysts anticipate 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. Shareholders of record on Monday, November 18th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
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.
Featured Article: G-20
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.