Global Financial Private Capital LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 21.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,383 shares of the oil and gas company’s stock after buying an additional 4,490 shares during the quarter. Global Financial Private Capital LLC’s holdings in Phillips 66 were worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of PSX. Capital Innovations LLC purchased a new position in Phillips 66 during the 3rd quarter valued at $212,000. Penserra Capital Management LLC increased its position in Phillips 66 by 2,643.7% during the 3rd quarter. Penserra Capital Management LLC now owns 12,182 shares of the oil and gas company’s stock valued at $1,372,000 after purchasing an additional 11,738 shares during the period. Main Street Research LLC increased its position in Phillips 66 by 4.5% during the 3rd quarter. Main Street Research LLC now owns 136,030 shares of the oil and gas company’s stock valued at $15,333,000 after purchasing an additional 5,868 shares during the period. ProVise Management Group LLC purchased a new position in Phillips 66 during the 3rd quarter valued at $211,000. Finally, Janney Montgomery Scott LLC increased its position in Phillips 66 by 1.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 174,106 shares of the oil and gas company’s stock valued at $19,625,000 after purchasing an additional 2,676 shares during the period. Institutional investors own 69.25% of the company’s stock.
In other Phillips 66 news, Director J Brian Ferguson bought 21,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of $92.31 per share, with a total value of $1,984,665.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.60. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. The business had revenue of $30.59 billion for the quarter, compared to analysts’ expectations of $28.50 billion. During the same quarter in the prior year, the business earned $1.66 EPS. Research analysts forecast that Phillips 66 will post 8.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 73.06%.
A number of analysts have recently weighed in on PSX shares. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Citigroup upped their target price on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. ValuEngine downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Barclays raised shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $133.00 to $128.00 in a research report on Wednesday, October 3rd. Finally, Jefferies Financial Group raised shares of Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price on the stock in a research report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $122.19.
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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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