Ruffer LLP reduced its holdings in Phillips 66 (NYSE:PSX) by 34.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,202 shares of the oil and gas company’s stock after selling 16,914 shares during the quarter. Ruffer LLP’s holdings in Phillips 66 were worth $3,629,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in Phillips 66 by 23.0% during the 2nd quarter. Fisher Asset Management LLC now owns 4,574 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 856 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in Phillips 66 by 23.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 2,622 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 500 shares during the last quarter. Atria Investments LLC raised its holdings in Phillips 66 by 34.4% during the 2nd quarter. Atria Investments LLC now owns 4,522 shares of the oil and gas company’s stock valued at $508,000 after buying an additional 1,158 shares during the last quarter. Welch & Forbes LLC raised its holdings in Phillips 66 by 4.0% during the 2nd quarter. Welch & Forbes LLC now owns 13,324 shares of the oil and gas company’s stock valued at $1,497,000 after buying an additional 508 shares during the last quarter. Finally, Community Bank of Raymore bought a new stake in Phillips 66 during the 2nd quarter valued at $203,000. 70.10% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on PSX shares. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Tuesday, September 11th. Barclays raised shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $133.00 to $128.00 in a research report on Wednesday, October 3rd. ValuEngine downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Finally, Wells Fargo & Co boosted their price objective on shares of Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $121.79.
PSX stock opened at $99.74 on Monday. The firm has a market cap of $45.99 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Phillips 66 has a 52-week low of $89.14 and a 52-week high of $123.97. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.60. The firm had revenue of $30.59 billion during the quarter, compared to the consensus estimate of $28.50 billion. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same quarter last year, the firm earned $1.66 earnings per share. On average, research analysts predict that Phillips 66 will post 8.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, November 16th. Phillips 66’s payout ratio is currently 73.06%.
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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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