Navellier & Associates Inc decreased its position in shares of Phillips 66 (NYSE:PSX) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,065 shares of the oil and gas company’s stock after selling 535 shares during the quarter. Navellier & Associates Inc’s holdings in Phillips 66 were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 0.4% during the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after buying an additional 130,653 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Phillips 66 by 0.7% during the second quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after buying an additional 203,138 shares during the last quarter. State Street Corp grew its holdings in shares of Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Phillips 66 by 4.3% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after buying an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Phillips 66 by 0.9% during the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after buying an additional 71,098 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.
Phillips 66 (NYSE PSX) opened at 91.08 on Wednesday. The company has a market capitalization of $46.59 billion, a P/E ratio of 27.25 and a beta of 1.19. The firm has a 50-day moving average of $91.02 and a 200 day moving average of $83.54. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.60%. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities analysts predict that Phillips 66 will post $4.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Phillips 66’s payout ratio is 70.18%.
Phillips 66 declared that its board has approved a share repurchase plan on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.
A number of research firms have recently commented on PSX. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Zacks Investment Research cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Piper Jaffray Companies reiterated a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th. J P Morgan Chase & Co increased their price target on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barclays PLC set a $95.00 price target on shares of Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $93.33.
Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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