Dean Capital Investments Management LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,890 shares of the oil and gas company’s stock, valued at approximately $1,934,000. Phillips 66 comprises approximately 1.1% of Dean Capital Investments Management LLC’s portfolio, making the stock its 8th biggest position.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Phillips 66 by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock valued at $3,409,691,000 after buying an additional 1,172,468 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Phillips 66 by 19.7% in the second quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock valued at $1,016,170,000 after purchasing an additional 1,790,537 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Phillips 66 by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 4,882,918 shares of the oil and gas company’s stock valued at $448,008,000 after purchasing an additional 463,870 shares during the period. LSV Asset Management grew its holdings in Phillips 66 by 2.4% during the second quarter. LSV Asset Management now owns 4,701,505 shares of the oil and gas company’s stock worth $439,778,000 after acquiring an additional 112,310 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Phillips 66 by 3,861.0% during the second quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock worth $350,288,000 after acquiring an additional 3,650,256 shares during the period. 69.11% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Wells Fargo & Co raised their target price on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Evercore ISI assumed coverage on Phillips 66 in a report on Wednesday, October 2nd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $125.00 target price (up from $115.00) on shares of Phillips 66 in a report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Buy” and a consensus target price of $119.80.
PSX stock traded up $0.74 during mid-day trading on Tuesday, reaching $119.15. 5,081 shares of the company’s stock were exchanged, compared to its average volume of 2,622,688. The company has a market cap of $52.62 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The stock’s 50 day moving average is $109.12 and its 200 day moving average is $97.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 0.84. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $119.92.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.51. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same quarter in the prior year, the business posted $3.10 earnings per share. On average, research analysts forecast that Phillips 66 will post 8.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.02%. Phillips 66’s dividend payout ratio is currently 30.74%.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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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