Gamco Investors INC. ET AL Has $3.90 Million Position in Phillips 66 (PSX)
Gamco Investors INC. ET AL boosted its holdings in Phillips 66 (NYSE:PSX) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,512 shares of the oil and gas company’s stock after purchasing an additional 3,500 shares during the period. Gamco Investors INC. ET AL’s holdings in Phillips 66 were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its position in shares of Phillips 66 by 27.4% in 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 acquiring an additional 277 shares during the period. Motco grew its position in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the period. Westside Investment Management Inc. grew its position in shares of 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 valued at $110,000 after acquiring an additional 1,000 shares during the period. Bruderman Asset Management LLC bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $112,000. Finally, Farmers National Bank bought a new position in shares of Phillips 66 in the 1st quarter valued at about $113,000. 69.81% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) opened at $93.66 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $95.00. The company has a market cap of $47,460.00, a price-to-earnings ratio of 26.99, a PEG ratio of 2.41 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The company had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. During the same period in the prior year, the firm posted $1.05 EPS. sell-side analysts anticipate that Phillips 66 will post 4.58 earnings per share 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 given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. Phillips 66’s payout ratio is presently 70.53%.
Phillips 66 announced that its Board of Directors has approved a stock buyback plan on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.
A number of research analysts have recently commented on PSX shares. Goldman Sachs Group, Inc. (The) raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $109.00 in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Tuesday, October 10th. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Jefferies Group LLC cut shares of Phillips 66 from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Finally, Barclays PLC set a $95.00 price objective on shares of Phillips 66 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Phillips 66 has an average rating of “Hold” and a consensus target price of $93.33.
About Phillips 66
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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