Wealthcare Advisory Partners LLC bought a new position in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,543 shares of the oil and gas company’s stock, valued at approximately $141,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 0.4% in the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after buying an additional 130,653 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Phillips 66 by 0.7% in the second quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after buying an additional 203,138 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after buying an additional 71,098 shares in the last quarter. FMR LLC increased its holdings in shares of Phillips 66 by 37.1% in the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after buying an additional 2,036,258 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock valued at $626,438,000 after buying an additional 422,652 shares in the last quarter. Hedge funds and other institutional investors own 70.24% of the company’s stock.

Shares of Phillips 66 (NYSE PSX) traded up $0.92 during trading hours on Thursday, reaching $99.99. 1,912,600 shares of the company’s stock traded hands, compared to its average volume of 2,193,489. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $100.39. The firm has a market cap of $50,675.37, a P/E ratio of 28.55, a P/E/G ratio of 2.53 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same period in the previous year, the business earned $1.05 EPS. analysts expect that Phillips 66 will post 4.61 EPS for the current year.

Phillips 66 declared that its board has approved a stock repurchase plan on Monday, October 9th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase 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.

The company also recently announced 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. This represents a $2.80 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 70.18%.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Several research firms have issued reports on PSX. US Capital Advisors cut Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Jefferies Group cut Phillips 66 from a “hold” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $75.14 in a report on Monday, October 16th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Argus reaffirmed a “buy” rating and issued a $108.00 price target (up previously from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Finally, Piper Jaffray Companies set a $93.00 price target on Phillips 66 and gave the company a “buy” rating in a report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average price target of $93.25.

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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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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