Yellowstone Partners LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,140 shares of the oil and gas company’s stock, valued at approximately $288,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Phillips 66 by 0.4% in the 2nd 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 acquiring an additional 130,653 shares during the period. BlackRock Inc. boosted its holdings in shares of Phillips 66 by 0.7% during the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after buying an additional 203,138 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Phillips 66 by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after buying an additional 71,098 shares during the period. FMR LLC boosted its holdings in shares of Phillips 66 by 37.1% during the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after buying an additional 2,036,258 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock worth $626,438,000 after buying an additional 422,652 shares during the period. 70.24% of the stock is owned by institutional investors.
Several brokerages recently commented on PSX. US Capital Advisors downgraded shares of Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price for the company in a report on Monday, November 27th. UBS lifted their target price on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Barclays downgraded shares of Phillips 66 from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $95.00 to $100.00 in a report on Tuesday, November 14th. Finally, Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the stock a “buy” rating in a report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $93.25.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the previous year, the firm posted $1.05 EPS. research analysts forecast that Phillips 66 will post 4.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, November 16th. Phillips 66’s dividend payout ratio is currently 70.18%.
Phillips 66 announced that its board has initiated a share buyback plan on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.
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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