Bailard Inc. grew its position in Phillips 66 (NYSE:PSX) by 1,274.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,427 shares of the oil and gas company’s stock after acquiring an additional 23,577 shares during the quarter. Bailard Inc.’s holdings in Phillips 66 were worth $2,191,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Phillips 66 by 13.6% in the third quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock valued at $3,731,461,000 after acquiring an additional 3,956,900 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Phillips 66 by 2.8% in the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after acquiring an additional 885,979 shares in the last quarter. FMR LLC lifted its position in shares of Phillips 66 by 9.0% in the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after acquiring an additional 1,188,567 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Phillips 66 by 0.5% in the third quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock valued at $954,557,000 after acquiring an additional 39,493 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock valued at $724,735,000 after acquiring an additional 36,370 shares in the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.
NYSE:PSX opened at $94.23 on Tuesday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $43.12 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.28 and a beta of 0.94.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $2.11. The company had revenue of $29.84 billion during the quarter, compared to analysts’ expectations of $35.51 billion. Phillips 66 had a return on equity of 22.18% and a net margin of 4.90%. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 8.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $3.20 annualized dividend and a yield of 3.40%. Phillips 66’s dividend payout ratio (DPR) is 27.33%.
Several research firms have recently weighed in on PSX. Jefferies Financial Group upgraded Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price on the stock in a research report on Tuesday, October 16th. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. Morgan Stanley cut their price target on Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Finally, JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price target for the company in a report on Tuesday, October 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $123.62.
In other Phillips 66 news, Director J Brian Ferguson bought 21,500 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was bought at an average price of $92.31 per share, with a total value of $1,984,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.
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About Phillips 66
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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