Baird Financial Group Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,862 shares of the oil and gas company’s stock after acquiring an additional 1,392 shares during the quarter. Baird Financial Group Inc.’s holdings in Phillips 66 were worth $7,998,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Phillips 66 by 13.6% during the 3rd quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock worth $3,731,461,000 after acquiring an additional 3,956,900 shares in the last quarter. FMR LLC boosted its position in shares of Phillips 66 by 9.0% during the 2nd quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after acquiring an additional 1,188,567 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock worth $954,557,000 after acquiring an additional 39,493 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after acquiring an additional 36,370 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Phillips 66 by 4.2% during the 2nd quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock worth $618,420,000 after acquiring an additional 221,487 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.
In related news, Director J Brian Ferguson acquired 21,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was bought at an average cost of $92.31 per share, with a total value of $1,984,665.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.60. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. The company had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. During the same period last year, the firm earned $1.66 EPS. As a group, research analysts forecast that Phillips 66 will post 8.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s payout ratio is 73.06%.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Citigroup upped their target price on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Barclays raised Phillips 66 from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $133.00 to $128.00 in a research report on Wednesday, October 3rd. Finally, Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price for the company in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $122.19.
Phillips 66 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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