Teachers Retirement System of The State of Kentucky lowered its stake in shares of Phillips 66 (NYSE:PSX) by 52.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 47,674 shares of the oil and gas company’s stock after selling 52,285 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Phillips 66 were worth $4,367,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 0.4% in the 2nd 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. BlackRock Inc. boosted its stake in shares of Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after buying an additional 203,138 shares during the last quarter. State Street Corp boosted its stake in shares of Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Phillips 66 by 4.3% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock worth $1,136,792,000 after buying an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after buying an additional 71,098 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.
Phillips 66 (NYSE:PSX) traded down $0.83 during trading on Tuesday, reaching $92.81. The company had a trading volume of 2,066,200 shares, compared to its average volume of 2,206,460. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $95.00. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $47,897.87, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. equities analysts anticipate that Phillips 66 will post 4.58 earnings per share for the current year.
Phillips 66 announced that its Board of Directors has initiated a share repurchase plan on Monday, October 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 3.02%. Phillips 66’s payout ratio is 70.18%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.
A number of equities analysts have recently weighed in 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 note on Tuesday, November 14th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, October 10th. Goldman Sachs Group upgraded Phillips 66 from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $109.00 in a research note on Tuesday, October 3rd. Scotiabank restated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Finally, Jefferies Group downgraded Phillips 66 from a “hold” rating to an “underperform” rating and cut their target price for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $93.25.
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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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