BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $31.76 Million Position in Phillips 66 (PSX)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Phillips 66 (NYSE:PSX) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,966 shares of the oil and gas company’s stock after buying an additional 65,727 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of Phillips 66 worth $31,758,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $102,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $119,000. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 112.9% in the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 780 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at approximately $141,000. Finally, First Dallas Securities Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $143,000. Hedge funds and other institutional investors own 77.72% of the company’s stock.
Several brokerages recently issued reports on PSX. Deutsche Bank reduced their price objective on Phillips 66 from $106.00 to $102.00 and set a “hold” rating for the company in a report on Monday. Citigroup lifted their price objective on Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, March 13th. Credit Suisse Group reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Phillips 66 in a report on Wednesday, March 7th. ValuEngine raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Cowen reaffirmed an “outperform” rating and set a $137.00 price objective (up from $125.00) on shares of Phillips 66 in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $103.37.
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 Zacks’ consensus estimate of $0.86 by $0.21. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. The company had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $30.71 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. equities research analysts anticipate that Phillips 66 will post 6.7 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.70 dividend. 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 (DPR) is 28.20%.
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Phillips 66 Company Profile
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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