Phillips 66 (PSX) Position Maintained by Meyer Handelman Co.
Meyer Handelman Co. maintained its stake in shares of Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,718 shares of the company’s stock at the end of the third quarter. Meyer Handelman Co.’s holdings in Phillips 66 were worth $4,730,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. WASHINGTON TRUST Co increased its stake in shares of Phillips 66 by 13.1% in the third quarter. WASHINGTON TRUST Co now owns 2,962 shares of the company’s stock valued at $238,000 after buying an additional 343 shares during the last quarter. Allegis Investment Advisors LLC increased its stake in Phillips 66 by 13.6% in the third quarter. Allegis Investment Advisors LLC now owns 19,876 shares of the company’s stock worth $1,601,000 after buying an additional 2,384 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in Phillips 66 by 9.1% in the third quarter. Penobscot Investment Management Company Inc. now owns 36,831 shares of the company’s stock worth $2,966,000 after buying an additional 3,080 shares in the last quarter. Northern Capital Management LLC increased its stake in Phillips 66 by 14.1% in the third quarter. Northern Capital Management LLC now owns 7,101 shares of the company’s stock worth $572,000 after buying an additional 875 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Phillips 66 by 230.3% in the third quarter. Toronto Dominion Bank now owns 15,227 shares of the company’s stock worth $1,227,000 after buying an additional 10,617 shares in the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) traded down 0.94% during midday trading on Monday, hitting $84.09. 3,385,647 shares of the stock were exchanged. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $93.46. The stock has a market cap of $43.80 billion, a PE ratio of 22.02 and a beta of 1.35. The company’s 50 day moving average is $81.25 and its 200-day moving average is $79.14.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 28th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period last year, the company earned $3.02 earnings per share. On average, analysts expect that Phillips 66 will post $3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.98%. Phillips 66’s dividend payout ratio (DPR) is currently 66.14%.
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A number of analysts have issued reports on PSX shares. Vetr downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective for the company. in a report on Monday, September 19th. Piper Jaffray Cos. boosted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. TheStreet raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Jefferies Group started coverage on shares of Phillips 66 in a report on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective for the company. Finally, Goldman Sachs Group Inc. raised shares of Phillips 66 from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $74.00 to $85.00 in a report on Thursday, September 29th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and an average target price of $86.12.
In other Phillips 66 news, VP Lawrence Michael Ziemba sold 72,630 shares of Phillips 66 stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $80.20, for a total transaction of $5,824,926.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Timothy Garth Taylor sold 27,260 shares of Phillips 66 stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $82.91, for a total transaction of $2,260,126.60. Following the sale, the president now owns 68,878 shares of the company’s stock, valued at $5,710,674.98. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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