Campbell & CO Investment Adviser 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 3,509 shares of the oil and gas company’s stock, valued at approximately $359,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in 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 buying an additional 73,004 shares in the last quarter. First Merchants Corp lifted its position in 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 buying an additional 2,117 shares in the last quarter. Mitchell Capital Management Co. lifted its position in 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 buying an additional 3,405 shares in the last quarter. Copeland Capital Management LLC lifted its position in 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 buying an additional 13,840 shares in the last quarter. Finally, Baxter Bros Inc. lifted its position in Phillips 66 by 8.7% during the second quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock valued at $1,247,000 after buying an additional 1,070 shares in the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.
A number of research firms have recently issued reports on PSX. Morgan Stanley lifted their price objective on shares of Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Macquarie assumed coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating for the company. 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. Scotiabank initiated coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating for the company. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $118.80.
In other news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.
NYSE PSX traded up $0.13 on Friday, reaching $119.70. The company’s stock had a trading volume of 1,556,669 shares, compared to its average volume of 2,631,109. The firm’s 50 day moving average is $108.48 and its two-hundred day moving average is $97.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. The stock has a market cap of $52.84 billion, a PE ratio of 10.22, a PEG 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.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.51. The firm 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 previous year, the company earned $3.10 EPS. Equities research analysts anticipate that Phillips 66 will post 8.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.90 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.01%. Phillips 66’s dividend payout ratio is 30.74%.
About Phillips 66
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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