Chemung Canal Trust Co. raised its stake in shares of Phillips 66 (NYSE:PSX) by 715.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,861 shares of the oil and gas company’s stock after purchasing an additional 41,995 shares during the period. Chemung Canal Trust Co.’s holdings in Phillips 66 were worth $4,901,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Buckingham Capital Management Inc. boosted its position in shares of Phillips 66 by 7.3% in the first quarter. Buckingham Capital Management Inc. now owns 38,710 shares of the oil and gas company’s stock valued at $3,684,000 after acquiring an additional 2,625 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Phillips 66 by 3.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 862,356 shares of the oil and gas company’s stock valued at $82,071,000 after acquiring an additional 29,693 shares during the period. Rehmann Capital Advisory Group lifted its position in Phillips 66 by 13.8% in the first quarter. Rehmann Capital Advisory Group now owns 1,968 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 239 shares during the period. Private Trust Co. NA lifted its position in Phillips 66 by 3.4% in the second quarter. Private Trust Co. NA now owns 7,848 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 261 shares during the period. Finally, Deane Retirement Strategies Inc. lifted its position in Phillips 66 by 2.8% in the second quarter. Deane Retirement Strategies Inc. now owns 18,931 shares of the oil and gas company’s stock worth $1,771,000 after purchasing an additional 508 shares during the period. Institutional investors own 69.33% of the company’s stock.
Several research analysts recently commented on the company. Scotiabank assumed coverage on Phillips 66 in a research report on Tuesday, September 3rd. They issued an “outperform” rating for the company. Macquarie assumed coverage on Phillips 66 in a report on Thursday, September 5th. They set an “outperform” rating for the company. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, October 29th. Evercore ISI started coverage on Phillips 66 in a research note on Wednesday, October 2nd. They issued an “outperform” rating for the company. Finally, Morgan Stanley raised their target price on Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $118.80.
In related news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.
PSX stock traded up $0.13 during midday trading on Friday, reaching $119.70. The stock had a trading volume of 1,556,669 shares, compared to its average volume of 2,631,109. The business has a fifty day simple moving average of $108.48 and a two-hundred day simple moving average of $97.69. The company has a quick ratio of 0.84, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market cap of $52.84 billion, a price-to-earnings 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 announced its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.51. The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same period last year, the company earned $3.10 earnings per share. On average, equities analysts predict that Phillips 66 will post 8.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.90 dividend. The ex-dividend date 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 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.
Further Reading: Support Level
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.