Phillips 66 (PSX) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,348 shares of the oil and gas company’s stock after acquiring an additional 10,881 shares during the quarter. Victory Capital Management Inc.’s holdings in Phillips 66 were worth $13,893,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $102,000. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 112.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 780 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $127,000. Wealthcare Advisory Partners LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $141,000. Finally, BB&T Investment Services Inc. bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $138,000. Institutional investors own 71.09% of the company’s stock.
Several research analysts have recently commented on PSX shares. Barclays downgraded Phillips 66 from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $95.00 to $100.00 in a research note on Tuesday, November 14th. Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Credit Suisse Group started coverage on Phillips 66 in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price for the company. US Capital Advisors downgraded Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday, December 4th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $103.89.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. The business had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $30.71 billion. Phillips 66 had a return on equity of 9.52% and a net margin of 4.88%. During the same period last year, the firm posted $0.16 EPS. analysts predict that Phillips 66 will post 7.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 2.99%. Phillips 66’s dividend payout ratio is presently 70.53%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction on Friday, December 15th. The stock was 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 directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by insiders.
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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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