Fayez Sarofim & Co. reduced its position in shares of Phillips 66 (NYSE:PSX) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 833,648 shares of the company’s stock after selling 7,172 shares during the period. Fayez Sarofim & Co.’s holdings in Phillips 66 were worth $67,150,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IndexIQ Advisors LLC raised its position in Phillips 66 by 115.2% in the third quarter. IndexIQ Advisors LLC now owns 1,511 shares of the company’s stock valued at $122,000 after buying an additional 809 shares during the last quarter. Argentus Capital Management LLC increased its stake in Phillips 66 by 17.7% in the third quarter. Argentus Capital Management LLC now owns 1,579 shares of the company’s stock valued at $127,000 after buying an additional 237 shares during the period. Winfield Associates Inc. increased its stake in Phillips 66 by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,655 shares of the company’s stock valued at $133,000 after buying an additional 25 shares during the period. Farmers National Bank purchased a new stake in Phillips 66 during the second quarter valued at about $141,000. Finally, Ledyard National Bank increased its stake in Phillips 66 by 12.0% in the third quarter. Ledyard National Bank now owns 1,871 shares of the company’s stock valued at $151,000 after buying an additional 200 shares during the period. 69.07% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded down 0.207% during trading on Monday, hitting $79.695. The company’s stock had a trading volume of 707,107 shares. Phillips 66 has a 12 month low of $73.67 and a 12 month high of $90.87. The firm has a 50 day moving average of $83.50 and a 200 day moving average of $81.42. The firm has a market cap of $41.51 billion, a P/E ratio of 20.868 and a beta of 1.33.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, February 3rd. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.23. Phillips 66 had a net margin of 1.81% and a return on equity of 6.24%. During the same quarter last year, the business posted $1.31 earnings per share. Equities research analysts predict that Phillips 66 will post $4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Thursday, February 16th. This represents a $2.52 annualized dividend and a yield of 3.16%. Phillips 66’s dividend payout ratio is presently 86.30%.
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PSX has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th. Barclays PLC lowered their price objective on shares of Phillips 66 from $93.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 6th. RBC Capital Markets reaffirmed a “hold” rating and set a $88.00 price objective on shares of Phillips 66 in a research report on Thursday, January 5th. TheStreet downgraded shares of Phillips 66 from a “b” rating to a “c+” rating in a research report on Thursday, January 12th. Finally, Mizuho boosted their target price on shares of Phillips 66 from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.61.
In related news, insider Robert A. Herman sold 78,327 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $82.94, for a total transaction of $6,496,441.38. Following the completion of the sale, the insider now directly owns 11,471 shares of the company’s stock, valued at approximately $951,404.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Lawrence Michael Ziemba sold 101,909 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $85.24, for a total transaction of $8,686,723.16. Following the sale, the vice president now directly owns 113,996 shares of the company’s stock, valued at $9,717,019.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,070 shares of company stock worth $17,758,232. Company insiders own 0.05% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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