Capital Advisors Ltd. LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 12.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 852 shares of the oil and gas company’s stock after purchasing an additional 93 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Phillips 66 were worth $87,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of PSX. Buckingham Capital Management Inc. increased its holdings in Phillips 66 by 7.3% in the first quarter. Buckingham Capital Management Inc. now owns 38,710 shares of the oil and gas company’s stock valued at $3,684,000 after buying an additional 2,625 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Phillips 66 by 3.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 862,356 shares of the oil and gas company’s stock valued at $82,071,000 after buying an additional 29,693 shares during the last quarter. Private Trust Co. NA increased its holdings in Phillips 66 by 3.4% in the second quarter. Private Trust Co. NA now owns 7,848 shares of the oil and gas company’s stock valued at $734,000 after buying an additional 261 shares during the last quarter. Deane Retirement Strategies Inc. increased its holdings in Phillips 66 by 2.8% in the second quarter. Deane Retirement Strategies Inc. now owns 18,931 shares of the oil and gas company’s stock valued at $1,771,000 after buying an additional 508 shares during the last quarter. Finally, Montecito Bank & Trust increased its holdings in Phillips 66 by 4.1% in the second quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock valued at $250,000 after buying an additional 105 shares during the last quarter. Institutional investors own 68.74% of the company’s stock.
In related news, EVP Robert A. Herman sold 47,433 shares of the firm’s 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The firm had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. During the same period in the prior year, the firm posted $2.80 earnings per share. Equities analysts expect that Phillips 66 will post 7.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.25%. Phillips 66’s payout ratio is 30.74%.
Several brokerages recently weighed in on PSX. Wells Fargo & Co boosted their price objective on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Scotiabank began coverage on Phillips 66 in a report on Tuesday, September 3rd. They set an “outperform” rating for the company. Morgan Stanley upped their target price on Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. One 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 has a consensus rating of “Buy” and a consensus target price of $114.80.
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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