Phillips 66 (PSX) Holdings Increased by Bank Pictet & Cie Asia Ltd.
Bank Pictet & Cie Asia Ltd. raised its stake in Phillips 66 (NYSE:PSX) by 33.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the oil and gas company’s stock after purchasing an additional 1,500 shares during the quarter. Bank Pictet & Cie Asia Ltd.’s holdings in Phillips 66 were worth $550,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its holdings in shares of Phillips 66 by 27.4% in the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares during the last quarter. Motco boosted its holdings in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,000 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $112,000. Finally, Farmers National Bank acquired a new position in shares of Phillips 66 in the 1st quarter valued at $113,000. Institutional investors own 69.81% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
A number of equities analysts have weighed in on PSX shares. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 10th. The Goldman Sachs Group, Inc. upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and lifted their target price for the company from $88.00 to $109.00 in a report on Tuesday, October 3rd. Piper Jaffray Companies restated a “buy” rating and set a $98.00 target price on shares of Phillips 66 in a report on Tuesday, September 26th. Argus restated a “buy” rating and set a $108.00 target price (up previously from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Finally, Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $93.25.
Phillips 66 (NYSE:PSX) traded up $0.59 during trading on Friday, reaching $92.46. 2,198,500 shares of the company’s stock traded hands, compared to its average volume of 2,230,708. The firm has a market cap of $47,060.00, a price-to-earnings ratio of 26.68, a PEG ratio of 2.38 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $95.00.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the prior year, the business earned $1.05 EPS. research analysts expect that Phillips 66 will post 4.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Phillips 66’s dividend payout ratio (DPR) is 70.53%.
Phillips 66 announced that its Board of Directors has initiated a share repurchase program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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