Atlantic Trust Group LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,190 shares of the oil and gas company’s stock after purchasing an additional 2,336 shares during the period. Atlantic Trust Group LLC’s holdings in Phillips 66 were worth $3,407,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Motco grew its holdings in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares during the last quarter. Ffcm LLC bought a new position in Phillips 66 in the 2nd quarter worth about $113,000. Bruderman Asset Management LLC bought a new position in Phillips 66 in the 2nd quarter worth about $112,000. Meeder Asset Management Inc. bought a new position in Phillips 66 in the 2nd quarter worth about $116,000. Finally, FTB Advisors Inc. grew its stake in Phillips 66 by 112.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the prior year, the company earned $1.05 EPS. research analysts expect that Phillips 66 will post 4.5 earnings per share for the current fiscal year.
Phillips 66 announced that its board has approved a share buyback 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 reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. Phillips 66’s payout ratio is presently 70.18%.
A number of equities analysts have commented on the stock. Royal Bank of Canada restated a “hold” rating and issued a $102.00 target price on shares of Phillips 66 in a research note on Wednesday, December 20th. Goldman Sachs Group upgraded shares of Phillips 66 to a “buy” rating in a research note on Monday, December 18th. US Capital Advisors downgraded shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday, December 4th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research note on Monday, November 27th. Finally, UBS Group upped their target price on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $94.14.
About Phillips 66
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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