BRYN MAWR TRUST Co lowered its stake in shares of Phillips 66 (NYSE:PSX) by 8.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,077 shares of the oil and gas company’s stock after selling 535 shares during the period. BRYN MAWR TRUST Co’s holdings in Phillips 66 were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Jennison Associates LLC grew its holdings in shares of Phillips 66 by 28.9% during the third quarter. Jennison Associates LLC now owns 6,534 shares of the oil and gas company’s stock worth $737,000 after buying an additional 1,463 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Phillips 66 by 36.8% during the third quarter. Janus Henderson Group PLC now owns 1,364,013 shares of the oil and gas company’s stock worth $153,750,000 after buying an additional 366,617 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after buying an additional 36,370 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Phillips 66 by 513.4% in the 3rd quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock valued at $1,874,000 after purchasing an additional 13,912 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Phillips 66 by 9.3% in the 3rd quarter. American International Group Inc. now owns 146,922 shares of the oil and gas company’s stock valued at $16,561,000 after purchasing an additional 12,451 shares in the last quarter. 69.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the company. Argus lowered their price objective on Phillips 66 to $116.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Citigroup lifted their price objective on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, Raymond James lowered their price objective on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, December 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $120.27.
Shares of PSX opened at $95.98 on Friday. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a market capitalization of $43.66 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.08 and a current ratio of 1.48.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.76 by $2.11. The company had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. During the same quarter in the previous year, the company earned $1.07 EPS. Analysts expect that Phillips 66 will post 8.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, February 15th. Phillips 66’s dividend payout ratio (DPR) is 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by insiders.
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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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