Hikari Power Ltd Has $23.53 Million Stake in Phillips 66 (PSX)
Hikari Power Ltd grew its holdings in Phillips 66 (NYSE:PSX) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 232,600 shares of the oil and gas company’s stock after buying an additional 6,100 shares during the quarter. Phillips 66 makes up approximately 2.8% of Hikari Power Ltd’s investment portfolio, making the stock its 7th largest holding. Hikari Power Ltd’s holdings in Phillips 66 were worth $23,527,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Beach Investment Management LLC. bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $1,693,000. Teacher Retirement System of Texas raised its position in shares of Phillips 66 by 430.6% in the second quarter. Teacher Retirement System of Texas now owns 168,109 shares of the oil and gas company’s stock valued at $13,901,000 after purchasing an additional 136,425 shares during the period. Advisors Asset Management Inc. raised its position in shares of Phillips 66 by 10.8% in the second quarter. Advisors Asset Management Inc. now owns 23,012 shares of the oil and gas company’s stock valued at $1,903,000 after purchasing an additional 2,247 shares during the period. Alpine Woods Capital Investors LLC raised its position in shares of Phillips 66 by 4.2% in the second quarter. Alpine Woods Capital Investors LLC now owns 12,500 shares of the oil and gas company’s stock valued at $1,034,000 after purchasing an additional 500 shares during the period. Finally, OLD Republic International Corp raised its position in shares of Phillips 66 by 9.0% in the second quarter. OLD Republic International Corp now owns 392,000 shares of the oil and gas company’s stock valued at $32,414,000 after purchasing an additional 32,500 shares during the period. 70.12% of the stock is currently owned by institutional investors.
Phillips 66 (PSX) opened at $102.37 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $102.80. The company has a market cap of $51,880.00, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24.
Phillips 66 declared that its board has approved a share buyback program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.
A number of research firms recently weighed in on PSX. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phillips 66 in a report on Thursday. Credit Suisse Group began coverage on shares of Phillips 66 in a report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price on the stock. Barclays reaffirmed a “sell” rating and set a $111.00 target price on shares of Phillips 66 in a report on Wednesday. Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Vetr raised 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, November 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.66.
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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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