Rodgers Brothers Inc. Has $1.06 Million Stake in Phillips 66 (PSX)
Rodgers Brothers Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 27.3% in the 4th quarter, HoldingsChannel reports. The fund owned 10,487 shares of the oil and gas company’s stock after acquiring an additional 2,252 shares during the period. Rodgers Brothers Inc.’s holdings in Phillips 66 were worth $1,061,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. BlackRock Inc. now owns 27,591,121 shares of the oil and gas company’s stock valued at $2,790,841,000 after acquiring an additional 119,373 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 7,098,574 shares of the oil and gas company’s stock worth $718,021,000 after buying an additional 260,478 shares in the last quarter. Geode Capital Management LLC increased its holdings in Phillips 66 by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 4,266,192 shares of the oil and gas company’s stock worth $430,564,000 after buying an additional 114,191 shares in the last quarter. Aristotle Capital Management LLC increased its holdings in Phillips 66 by 3.1% in the 4th quarter. Aristotle Capital Management LLC now owns 3,592,122 shares of the oil and gas company’s stock worth $363,343,000 after buying an additional 109,297 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Phillips 66 by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 2,769,247 shares of the oil and gas company’s stock worth $253,691,000 after buying an additional 33,298 shares in the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.50% of the company’s stock.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $30.71 billion. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. During the same period in the previous year, the company posted $0.16 EPS. equities research analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. Phillips 66’s dividend payout ratio is currently 28.20%.
Several research firms recently commented on PSX. Citigroup lifted their price objective on Phillips 66 from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $115.00 price objective on shares of Phillips 66 in a report on Monday, January 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $106.00 price objective on shares of Phillips 66 in a report on Tuesday, January 30th. Morgan Stanley reiterated an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Finally, Credit Suisse Group began coverage on Phillips 66 in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Phillips 66 currently has an average rating of “Hold” and a consensus price target of $103.46.
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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