Phillips 66 (PSX) Shares Bought by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio raised its stake in Phillips 66 (NYSE:PSX) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,056 shares of the oil and gas company’s stock after purchasing an additional 15,689 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Phillips 66 worth $29,046,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. FMR LLC increased its stake in Phillips 66 by 37.1% in the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after purchasing an additional 2,036,258 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Phillips 66 by 81.2% in the second quarter. Russell Investments Group Ltd. now owns 1,608,000 shares of the oil and gas company’s stock valued at $132,965,000 after purchasing an additional 720,568 shares in the last quarter. Vaughan David Investments Inc. IL increased its stake in Phillips 66 by 5,820.5% in the third quarter. Vaughan David Investments Inc. IL now owns 468,782 shares of the oil and gas company’s stock valued at $21,395,000 after purchasing an additional 460,864 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock valued at $626,438,000 after buying an additional 422,652 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Phillips 66 by 75.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 820,620 shares of the oil and gas company’s stock valued at $67,857,000 after buying an additional 354,175 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.
PSX has been the subject of a number of analyst reports. UBS lifted their price objective on shares of Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Wells Fargo & Company reiterated a “market perform” rating and set a $91.00 price objective (up from $84.00) on shares of Phillips 66 in a report on Tuesday, October 17th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a report on Monday, November 13th. Howard Weil upgraded shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $98.00 in a report on Thursday, September 28th. Finally, J P Morgan Chase & Co lifted their price objective on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Three 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $93.25.
Phillips 66 (PSX) opened at $99.92 on Friday. The firm has a market cap of $50,920.90, a PE ratio of 28.69, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $100.46.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The business had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the prior year, the company posted $1.05 EPS. analysts predict that Phillips 66 will post 4.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.80%. Phillips 66’s payout ratio is currently 70.18%.
Phillips 66 announced that its Board of Directors has authorized a stock buyback plan on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Phillips 66 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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