Marco Investment Management LLC Has $3.52 Million Position in Phillips 66 (PSX)

Marco Investment Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 15.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 34,790 shares of the oil and gas company’s stock after selling 6,472 shares during the quarter. Marco Investment Management LLC’s holdings in Phillips 66 were worth $3,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Nationwide Fund Advisors lifted its holdings in Phillips 66 by 7.7% in the 3rd quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after purchasing an additional 24,318 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Phillips 66 during the third quarter worth approximately $5,569,000. Alps Advisors Inc. lifted its holdings in shares of Phillips 66 by 82.9% during the third quarter. Alps Advisors Inc. now owns 4,692 shares of the oil and gas company’s stock worth $430,000 after buying an additional 2,126 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Phillips 66 by 8.5% during the third quarter. New York State Common Retirement Fund now owns 1,175,459 shares of the oil and gas company’s stock worth $107,684,000 after buying an additional 92,469 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Phillips 66 during the third quarter worth approximately $1,003,000. Hedge funds and other institutional investors own 77.72% of the company’s stock.

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Shares of Phillips 66 (PSX) opened at $94.40 on Tuesday. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $107.47. The firm has a market capitalization of $44,686.04, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.63 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.09.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. The firm had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $30.71 billion. During the same period in the prior year, the business posted $0.16 earnings per share. equities research analysts anticipate that Phillips 66 will post 6.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is 28.20%.

A number of research analysts have recently commented on PSX shares. Cowen reiterated an “outperform” rating and set a $137.00 price target (up from $125.00) on shares of Phillips 66 in a report on Wednesday, February 14th. Goldman Sachs upgraded Phillips 66 to a “buy” rating in a report on Monday, December 18th. Barclays reiterated a “sell” rating and set a $111.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Citigroup cut their price target on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, Credit Suisse Group initiated coverage on Phillips 66 in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $103.37.

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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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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