Pineno Levin & Ford Asset Management Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,703 shares of the oil and gas company’s stock after selling 140 shares during the period. Pineno Levin & Ford Asset Management Inc.’s holdings in Phillips 66 were worth $1,608,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Advisors Preferred LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $25,000. TRUE Private Wealth Advisors bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $26,000. Atwater Malick LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $27,000. Manchester Financial Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $32,000. Finally, Coastal Capital Group Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 68.75% of the company’s stock.
Several equities research analysts recently commented on the company. Scotiabank assumed coverage on Phillips 66 in a research report on Tuesday, September 3rd. They set an “outperform” rating on the stock. Macquarie assumed coverage on Phillips 66 in a research report on Thursday, September 5th. They set an “outperform” rating on the stock. Raymond James upped their target price on Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Finally, ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $113.80.
NYSE:PSX traded up $0.64 on Thursday, hitting $106.90. The stock had a trading volume of 48,206 shares, compared to its average volume of 2,585,671. The business’s fifty day moving average is $102.15 and its 200 day moving average is $95.64. The company has a market cap of $47.84 billion, a PE ratio of 9.12, a P/E/G ratio of 2.15 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $110.65.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.80 earnings per share. Equities analysts predict that Phillips 66 will post 7.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 annualized dividend and a yield of 3.37%. Phillips 66’s payout ratio is currently 30.74%.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
Phillips 66 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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