InterOcean Capital LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 39.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,290 shares of the oil and gas company’s stock after selling 45,450 shares during the quarter. InterOcean Capital LLC’s holdings in Phillips 66 were worth $7,810,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position in Phillips 66 by 152.4% during the third quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock worth $106,000 after purchasing an additional 570 shares during the period. Tuttle Tactical Management bought a new position in Phillips 66 during the second quarter worth about $107,000. Baker Ellis Asset Management LLC bought a new position in Phillips 66 during the second quarter worth about $111,000. Omnia Family Wealth LLC boosted its position in Phillips 66 by 3,040.6% during the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 973 shares during the period. Finally, Willingdon Wealth Management bought a new position in Phillips 66 during the third quarter worth about $139,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.
PSX has been the subject of a number of research reports. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. Barclays upgraded shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $133.00 to $128.00 in a research report on Wednesday, October 3rd. ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Wells Fargo & Co raised their price objective on shares of Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Finally, Citigroup raised their price objective on shares of Phillips 66 from $126.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $122.19.
PSX stock opened at $93.52 on Monday. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. Phillips 66 has a one year low of $88.99 and a one year high of $123.97. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.50 by $0.60. The firm had revenue of $30.59 billion for the quarter, compared to the consensus estimate of $28.50 billion. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same period last year, the firm posted $1.66 earnings per share. On average, analysts anticipate that Phillips 66 will post 8.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
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Phillips 66 Company Profile
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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