Cushing Asset Management LP increased its position in Phillips 66 (NYSE:PSX) by 182.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,823 shares of the oil and gas company’s stock after buying an additional 165,388 shares during the period. Cushing Asset Management LP’s holdings in Phillips 66 were worth $25,876,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Sciencast Management LP purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $751,000. Flinton Capital Management LLC lifted its position in shares of Phillips 66 by 9.2% in the fourth quarter. Flinton Capital Management LLC now owns 20,552 shares of the oil and gas company’s stock worth $2,079,000 after buying an additional 1,736 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Phillips 66 by 12.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 99,529 shares of the oil and gas company’s stock worth $10,066,000 after buying an additional 10,787 shares in the last quarter. Elkfork Partners LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $1,633,000. Finally, Teachers Advisors LLC lifted its position in shares of Phillips 66 by 0.3% in the fourth quarter. Teachers Advisors LLC now owns 829,231 shares of the oil and gas company’s stock worth $83,877,000 after buying an additional 2,413 shares in the last quarter. Institutional investors own 77.87% of the company’s stock.
A number of equities research analysts recently commented on PSX shares. Barclays downgraded Phillips 66 from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $95.00 to $100.00 in a research report on Tuesday, November 14th. UBS Group upped their price objective on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. Vetr downgraded Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective on the stock. in a research report on Tuesday, November 21st. US Capital Advisors downgraded Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Finally, Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $103.46.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the transaction, the vice president now owns 2,700 shares of the company’s stock, valued at $270,675. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.
Phillips 66 (NYSE PSX) opened at $94.55 on Wednesday. The company has a market capitalization of $44,312.84, a P/E ratio of 9.52, a PEG ratio of 1.55 and a beta of 1.18. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. The firm had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $30.71 billion. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. During the same quarter in the prior year, the firm posted $0.16 earnings per share. sell-side analysts forecast that Phillips 66 will post 7.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. Phillips 66’s dividend payout ratio is 28.20%.
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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 through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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