RPG Investment Advisory LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 2,987.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,628 shares of the oil and gas company’s stock after buying an additional 47,053 shares during the period. RPG Investment Advisory LLC’s holdings in Phillips 66 were worth $4,980,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. 1 North Wealth Services LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $49,000. Leavell Investment Management Inc. lifted its stake in shares of Phillips 66 by 6.6% in the 3rd quarter. Leavell Investment Management Inc. now owns 19,217 shares of the oil and gas company’s stock valued at $1,968,000 after purchasing an additional 1,193 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $219,000. Meritage Portfolio Management lifted its stake in shares of Phillips 66 by 2.0% in the 3rd quarter. Meritage Portfolio Management now owns 35,019 shares of the oil and gas company’s stock valued at $3,586,000 after purchasing an additional 686 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in shares of Phillips 66 by 13.7% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 6,681 shares of the oil and gas company’s stock valued at $684,000 after purchasing an additional 807 shares during the last quarter. 68.74% of the stock is owned by institutional investors.
Shares of NYSE:PSX traded up $2.83 on Monday, hitting $117.25. 346,724 shares of the company were exchanged, compared to its average volume of 2,190,054. The company’s 50 day moving average price is $104.12 and its two-hundred day moving average price is $96.23. Phillips 66 has a one year low of $78.44 and a one year high of $117.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The firm has a market capitalization of $49.62 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 2.13 and a beta of 1.07.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.51. The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Research analysts predict that Phillips 66 will post 7.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.07%. Phillips 66’s payout ratio is currently 30.74%.
Several equities research analysts recently issued reports on the stock. Wells Fargo & Co lifted their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Raymond James boosted their target price on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $114.80.
In related news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.
Phillips 66 Company Profile
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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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