Cerebellum GP LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 455 shares of the oil and gas company’s stock, valued at approximately $47,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Bank of Montreal Can raised its stake in shares of Phillips 66 by 9.4% during the second quarter. Bank of Montreal Can now owns 852,142 shares of the oil and gas company’s stock valued at $79,710,000 after purchasing an additional 73,004 shares during the period. First Merchants Corp raised its stake in shares of Phillips 66 by 13.5% during the second quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock valued at $1,665,000 after purchasing an additional 2,117 shares during the period. Mitchell Capital Management Co. raised its stake in shares of Phillips 66 by 23.4% during the second quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock valued at $1,678,000 after purchasing an additional 3,405 shares during the period. Copeland Capital Management LLC raised its stake in shares of Phillips 66 by 44.1% during the second quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock valued at $4,227,000 after purchasing an additional 13,840 shares during the period. Finally, Baxter Bros Inc. increased its stake in shares of Phillips 66 by 8.7% in the second quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock worth $1,247,000 after buying an additional 1,070 shares during the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.
NYSE PSX traded up $0.13 on Friday, hitting $119.70. 1,556,669 shares of the company were exchanged, compared to its average volume of 2,631,109. The firm has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $119.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 0.84. The company’s 50 day moving average price is $108.48 and its 200-day moving average price is $97.69.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.51. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same quarter in the prior year, the company earned $3.10 EPS. As a group, equities analysts expect that Phillips 66 will post 8.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.01%. Phillips 66’s payout ratio is currently 30.74%.
A number of analysts recently issued reports on the stock. Cowen lifted their price target on shares of Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Wells Fargo & Co boosted their target price on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Buy” and an average price target of $118.80.
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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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