First Republic Investment Management Inc. Purchases 3,616 Shares of Phillips 66 (PSX)
First Republic Investment Management Inc. raised its position in shares of Phillips 66 (NYSE:PSX) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,683 shares of the oil and gas company’s stock after buying an additional 3,616 shares during the quarter. First Republic Investment Management Inc.’s holdings in Phillips 66 were worth $6,658,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of PSX. FMR LLC raised its position in shares of Phillips 66 by 37.1% in the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after purchasing an additional 2,036,258 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Phillips 66 by 4,771.9% in 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 purchasing an additional 1,396,918 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Phillips 66 by 81.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,608,000 shares of the oil and gas company’s stock worth $132,965,000 after purchasing an additional 720,568 shares during the last quarter. Vaughan David Investments Inc. IL raised its position in shares of Phillips 66 by 5,820.5% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 468,782 shares of the oil and gas company’s stock worth $21,395,000 after purchasing an additional 460,864 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock worth $626,438,000 after purchasing an additional 422,652 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. US Capital Advisors lowered Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a research report on Monday, November 27th. UBS lifted their price target on Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Barclays downgraded Phillips 66 from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a report on Tuesday, November 14th. Finally, Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the stock a “buy” rating in a report on Monday, November 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average price target of $93.25.
Shares of Phillips 66 (PSX) opened at $99.55 on Friday. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $99.87. The company has a market capitalization of $50,920.92, a PE ratio of 28.69, a P/E/G ratio of 2.56 and a beta of 1.24. 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 released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the 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 company had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. During the same period last year, the company earned $1.05 EPS. analysts predict that Phillips 66 will post 4.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.81%. Phillips 66’s dividend payout ratio is currently 70.18%.
Phillips 66 announced that its board has initiated a share buyback plan 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 repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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Phillips 66 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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