50,000 Shares in Phillips 66 (PSX) Purchased by MUFG Securities EMEA plc
MUFG Securities EMEA plc purchased a new position in shares of Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 50,000 shares of the oil and gas company’s stock, valued at approximately $4,581,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. BlackRock Inc. grew its position in Phillips 66 by 2,329.3% during the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after acquiring an additional 26,676,647 shares during the last quarter. FMR LLC grew its position in Phillips 66 by 37.1% during the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after acquiring an additional 2,036,258 shares during the last quarter. Clearbridge Investments LLC grew its position in Phillips 66 by 4,771.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after acquiring an additional 1,396,918 shares during the last quarter. New England Asset Management Inc. bought a new stake in Phillips 66 during the 1st quarter worth approximately $104,095,000. Finally, State Street Corp grew its position in Phillips 66 by 4.0% during the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after acquiring an additional 921,895 shares during the last quarter. Institutional investors and hedge funds own 69.92% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down $0.33 during trading on Thursday, reaching $93.29. The company had a trading volume of 1,412,525 shares, compared to its average volume of 2,214,164. The firm has a market cap of $47,270.00, a P/E ratio of 26.98, a PEG ratio of 2.41 and a beta of 1.20. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $95.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The business had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same quarter last year, the business posted $1.05 EPS. equities research analysts predict that Phillips 66 will post 4.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 70.53%.
Phillips 66 declared that its board has initiated a share buyback 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 reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on PSX. Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the company a “buy” rating in a research report on Monday, November 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 5th. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. J P Morgan Chase & Co increased their price objective on Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Finally, Barclays PLC set a $95.00 price objective on Phillips 66 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $93.25.
About Phillips 66
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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