CHURCHILL MANAGEMENT Corp purchased a new position in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,127 shares of the oil and gas company’s stock, valued at approximately $2,471,000.
A number of other large investors have also bought and sold shares of the stock. Montecito Bank & Trust increased its holdings in shares of Phillips 66 by 4.1% during the second quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after buying an additional 105 shares in the last quarter. AGF Investments LLC increased its holdings in shares of Phillips 66 by 30.5% during the second quarter. AGF Investments LLC now owns 458 shares of the oil and gas company’s stock worth $43,000 after buying an additional 107 shares in the last quarter. Certified Advisory Corp increased its holdings in shares of Phillips 66 by 17.5% during the second quarter. Certified Advisory Corp now owns 738 shares of the oil and gas company’s stock worth $69,000 after buying an additional 110 shares in the last quarter. First National Bank of Hutchinson increased its holdings in shares of Phillips 66 by 2.8% during the second quarter. First National Bank of Hutchinson now owns 4,128 shares of the oil and gas company’s stock worth $424,000 after buying an additional 112 shares in the last quarter. Finally, Securian Asset Management Inc increased its holdings in shares of Phillips 66 by 0.3% during the second quarter. Securian Asset Management Inc now owns 43,029 shares of the oil and gas company’s stock worth $4,025,000 after buying an additional 115 shares in the last quarter. 68.75% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.
PSX has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Raymond James raised their price objective on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Scotiabank began coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They set an “outperform” rating on the stock. ValuEngine raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cowen increased their price target on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $113.80.
PSX opened at $107.20 on Friday. Phillips 66 has a one year low of $78.44 and a one year high of $108.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The company’s 50 day simple moving average is $102.59 and its 200-day simple moving average is $95.76. The stock has a market capitalization of $48.08 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The business had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. As a group, analysts anticipate that Phillips 66 will post 7.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 annualized dividend and a dividend yield of 3.36%. Phillips 66’s dividend payout ratio (DPR) 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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