Exane Derivatives boosted its position in Phillips 66 (NYSE:PSX) by 14.5% during the 4th quarter, Holdings Channel reports. The fund owned 37,876 shares of the oil and gas company’s stock after buying an additional 4,795 shares during the period. Exane Derivatives’ holdings in Phillips 66 were worth $3,972,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PSX. Nuveen Asset Management LLC boosted its holdings in Phillips 66 by 3,861.0% in 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 in the last quarter. Waddell & Reed Financial Inc. boosted its holdings in Phillips 66 by 248.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,511,127 shares of the oil and gas company’s stock worth $141,351,000 after acquiring an additional 1,077,246 shares in the last quarter. State Street Corp boosted its holdings in Phillips 66 by 4.9% in the third quarter. State Street Corp now owns 22,727,392 shares of the oil and gas company’s stock worth $2,327,285,000 after acquiring an additional 1,064,558 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Phillips 66 by 5,197.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 764,938 shares of the oil and gas company’s stock worth $85,222,000 after acquiring an additional 750,499 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Phillips 66 in the third quarter worth approximately $47,594,000. Institutional investors and hedge funds own 68.34% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 464 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $119.53, for a total transaction of $55,461.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.
Several brokerages have recently commented on PSX. Royal Bank of Canada reissued a “hold” rating and issued a $120.00 price objective on shares of Phillips 66 in a research note on Sunday, December 22nd. Raymond James lowered their price objective on Phillips 66 from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Morgan Stanley lowered their price objective on Phillips 66 from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Cowen increased their price objective on Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, ValuEngine raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $122.17.
Shares of PSX traded down $0.47 on Wednesday, reaching $101.87. 32,612 shares of the company’s stock traded hands, compared to its average volume of 1,935,627. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock has a market cap of $45.91 billion, a PE ratio of 10.26, a PEG ratio of 1.59 and a beta of 1.09. The stock’s 50 day simple moving average is $109.80 and its two-hundred day simple moving average is $106.46. Phillips 66 has a 52-week low of $80.24 and a 52-week 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 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.51. The company had revenue of $27.77 billion during 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 period last year, the business posted $3.10 earnings per share. Analysts forecast that Phillips 66 will post 8.14 earnings per share for the current year.
About Phillips 66
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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