Phillips 66 (PSX) Shares Sold by WINTON GROUP Ltd
WINTON GROUP Ltd cut its stake in Phillips 66 (NYSE:PSX) by 44.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,624 shares of the oil and gas company’s stock after selling 6,034 shares during the period. WINTON GROUP Ltd’s holdings in Phillips 66 were worth $698,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PSX. Oppenheimer Asset Management Inc. purchased a new position in Phillips 66 in the first quarter valued at $6,272,000. Two Sigma Securities LLC acquired a new stake in Phillips 66 in the first quarter valued at $1,043,000. State Street Corp raised its stake in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares in the last quarter. Sii Investments Inc. WI raised its stake in Phillips 66 by 2.4% in the first quarter. Sii Investments Inc. WI now owns 70,508 shares of the oil and gas company’s stock valued at $5,588,000 after buying an additional 1,638 shares in the last quarter. Finally, Nomura Holdings Inc. raised its stake in Phillips 66 by 102.6% in the first quarter. Nomura Holdings Inc. now owns 4,455 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 176,911 shares in the last quarter. Hedge funds and other institutional investors own 70.24% of the company’s stock.
A number of analysts have weighed in on the company. US Capital Advisors cut Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target on the stock in a research note on Monday, November 27th. UBS raised their price target on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. Barclays cut Phillips 66 from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $95.00 to $100.00 in a research note on Tuesday, November 14th. Finally, Piper Jaffray Companies set a $93.00 price target on Phillips 66 and gave the company a “buy” rating in a research note on Monday, November 13th. Three equities 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 company’s stock. The company presently has an average rating of “Hold” and an average price target of $93.25.
Phillips 66 (NYSE:PSX) traded down $0.68 on Thursday, hitting $97.59. The stock had a trading volume of 1,612,400 shares, compared to its average volume of 2,203,019. 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 has a twelve month low of $75.14 and a twelve month high of $99.35. The firm has a market capitalization of $50,266.16, a PE ratio of 28.32, a P/E/G ratio of 2.52 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. equities research analysts forecast that Phillips 66 will post 4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 70.18%.
Phillips 66 declared that its Board of Directors has initiated a stock buyback plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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