BB&T Corp boosted its position in shares of Phillips 66 (NYSE:PSX) by 87.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,920 shares of the oil and gas company’s stock after buying an additional 62,834 shares during the period. BB&T Corp’s holdings in Phillips 66 were worth $11,623,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Phillips 66 by 13.6% during the 3rd quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock worth $3,731,461,000 after purchasing an additional 3,956,900 shares during the period. FMR LLC raised its position in Phillips 66 by 9.0% in the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after purchasing an additional 1,188,567 shares during the period. LSV Asset Management raised its position in Phillips 66 by 208.6% in the third quarter. LSV Asset Management now owns 1,625,684 shares of the oil and gas company’s stock valued at $183,247,000 after purchasing an additional 1,098,869 shares during the period. Prudential Financial Inc. increased its position in shares of Phillips 66 by 105.8% during the third quarter. Prudential Financial Inc. now owns 1,951,639 shares of the oil and gas company’s stock worth $219,989,000 after acquiring an additional 1,003,240 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Phillips 66 in the third quarter valued at $110,916,000. Institutional investors and hedge funds own 70.76% of the company’s stock.
A number of brokerages have recently weighed in on PSX. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Raymond James cut their target price on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, December 31st. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $123.62.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $2.11. The business had revenue of $29.84 billion during the quarter, compared to the consensus estimate of $35.51 billion. Phillips 66 had a return on equity of 22.18% and a net margin of 4.90%. During the same period in the previous year, the business earned $1.07 EPS. Equities research analysts forecast that Phillips 66 will post 8.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, February 15th. Phillips 66’s dividend payout ratio is presently 27.33%.
In other Phillips 66 news, Director J Brian Ferguson purchased 21,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was bought at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.
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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