KG&L Capital Management LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,320 shares of the oil and gas company’s stock, valued at approximately $237,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC lifted its stake in Phillips 66 by 221.3% in the third quarter. Larson Financial Group LLC now owns 437 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 301 shares during the period. Cypress Capital Group lifted its stake in Phillips 66 by 2.1% in the third quarter. Cypress Capital Group now owns 18,917 shares of the oil and gas company’s stock valued at $1,938,000 after buying an additional 390 shares during the period. Pacer Advisors Inc. lifted its stake in Phillips 66 by 20.1% in the third quarter. Pacer Advisors Inc. now owns 48,148 shares of the oil and gas company’s stock valued at $4,930,000 after buying an additional 8,060 shares during the period. Artemis Investment Management LLP acquired a new position in Phillips 66 in the third quarter valued at approximately $9,092,000. Finally, CX Institutional acquired a new position in Phillips 66 in the third quarter valued at approximately $4,556,000. 68.71% of the stock is currently owned by hedge funds and other institutional investors.
PSX has been the topic of several recent analyst reports. Cowen boosted their price target on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Co upped their target price on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. ValuEngine raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $113.80.
In related news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Shares of NYSE:PSX traded down $0.16 during trading on Friday, reaching $106.44. 145,703 shares of the stock were exchanged, compared to its average volume of 2,619,805. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $112.60. The stock has a fifty day moving average of $100.93 and a two-hundred day moving average of $95.32. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The company had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. Sell-side analysts forecast that Phillips 66 will post 7.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, November 15th. Phillips 66’s payout ratio is currently 30.74%.
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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