Sentry Investment Management LLC cut its holdings in Phillips 66 (NYSE:PSX) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,129 shares of the oil and gas company’s stock after selling 5,786 shares during the period. Sentry Investment Management LLC’s holdings in Phillips 66 were worth $2,946,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Phillips 66 by 0.4% during the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after buying an additional 130,653 shares during the last quarter. FMR LLC increased its holdings in Phillips 66 by 37.1% during the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after buying an additional 2,036,258 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock worth $626,438,000 after buying an additional 422,652 shares during the last quarter. Boston Partners increased its holdings in Phillips 66 by 0.4% during the third quarter. Boston Partners now owns 3,107,739 shares of the oil and gas company’s stock worth $284,700,000 after buying an additional 11,610 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Phillips 66 by 1.2% during the third quarter. Legal & General Group Plc now owns 2,769,247 shares of the oil and gas company’s stock worth $253,691,000 after buying an additional 33,298 shares during the last quarter. Institutional investors own 76.86% of the company’s stock.
A number of brokerages recently weighed in on PSX. Citigroup boosted their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Piper Jaffray Companies restated a “buy” rating and set a $115.00 target price on shares of Phillips 66 in a report on Monday, January 22nd. Royal Bank of Canada restated a “hold” rating and set a $106.00 target price on shares of Phillips 66 in a report on Tuesday, January 30th. Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Finally, Credit Suisse Group began coverage on shares of Phillips 66 in a report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $104.02.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of 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 can be accessed through the SEC website. 0.50% of the stock is owned by insiders.
Shares of Phillips 66 (PSX) traded up $0.29 during trading on Wednesday, hitting $94.22. 1,791,357 shares of the stock were exchanged, compared to its average volume of 2,720,000. The company has a market capitalization of $47,750.00, a PE ratio of 20.53, a PEG ratio of 1.51 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 announced its earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. The company had revenue of $30.12 billion during the quarter, compared to analysts’ expectations of $30.71 billion. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. During the same quarter in the previous year, the business posted $0.16 earnings per share. equities analysts anticipate that Phillips 66 will post 7.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Tuesday, February 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is presently 61.00%.
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Phillips 66 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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