Meeder Asset Management Inc. reduced its position in Phillips 66 (NYSE:PSX) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,952 shares of the oil and gas company’s stock after selling 4,904 shares during the period. Meeder Asset Management Inc.’s holdings in Phillips 66 were worth $9,314,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Advisors Preferred LLC purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $25,000. TRUE Private Wealth Advisors purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $26,000. Atwater Malick LLC purchased a new position in Phillips 66 in the 3rd quarter valued at approximately $27,000. Manchester Financial Inc. purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $32,000. Finally, Coastal Capital Group Inc. purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $37,000. 68.75% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the company. Macquarie started coverage on Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating for the company. Evercore ISI started coverage on Phillips 66 in a research report on Wednesday, October 2nd. They set an “outperform” rating for the company. Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Scotiabank started coverage on Phillips 66 in a research report on Tuesday, September 3rd. They set an “outperform” rating for the company. Finally, Raymond James raised their price target on Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $113.80.
Phillips 66 stock traded up $0.79 during mid-day trading on Thursday, hitting $107.05. 60,696 shares of the company were exchanged, compared to its average volume of 2,585,671. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The business’s 50 day simple moving average is $102.15 and its two-hundred day simple moving average is $95.64. The company has a market capitalization of $47.84 billion, a P/E ratio of 9.12, a PEG ratio of 2.15 and a beta of 1.07. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $110.65.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same quarter last year, the business posted $2.80 earnings per share. Equities research analysts predict that Phillips 66 will post 7.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio is currently 30.74%.
In other news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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