Fox Run Management L.L.C. Has $770,000 Position in Phillips 66 (PSX)
Fox Run Management L.L.C. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 95.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,400 shares of the oil and gas company’s stock after purchasing an additional 4,100 shares during the quarter. Fox Run Management L.L.C.’s holdings in Phillips 66 were worth $770,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in PSX. Jacobi Capital Management LLC raised its stake in shares of Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares during the period. Motco raised its stake in shares of Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares during the period. Westside Investment Management Inc. increased its stake in Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,000 shares during the last quarter. Bruderman Asset Management LLC bought a new position in Phillips 66 in the 2nd quarter worth about $112,000. Finally, Farmers National Bank bought a new position in Phillips 66 in the 1st quarter worth about $113,000. Institutional investors own 69.58% of the company’s stock.
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A number of equities analysts have weighed in on the company. Jefferies Group LLC lowered Phillips 66 from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Argus restated a “buy” rating and issued a $108.00 target price (up from $96.00) on shares of Phillips 66 in a research note on Thursday, October 12th. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Barclays PLC set a $95.00 target price on Phillips 66 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. Finally, Goldman Sachs Group, Inc. (The) upgraded Phillips 66 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $88.00 to $109.00 in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $93.33.
Phillips 66 (PSX) opened at $93.58 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $47.81 billion, a PE ratio of 26.93, a PEG ratio of 2.42 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same period in the prior year, the business earned $1.05 EPS. analysts expect that Phillips 66 will post 4.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, November 16th. Phillips 66’s dividend payout ratio is presently 70.18%.
Phillips 66 announced that its Board of Directors has authorized a stock repurchase plan on Monday, October 9th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.
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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