Phillips 66 (PSX) Shares Bought by Putnam FL Investment Management Co.

Putnam FL Investment Management Co. grew its holdings in Phillips 66 (NYSE:PSX) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,348 shares of the oil and gas company’s stock after acquiring an additional 430 shares during the quarter. Putnam FL Investment Management Co.’s holdings in Phillips 66 were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its position in Phillips 66 by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock valued at $724,735,000 after purchasing an additional 36,370 shares in the last quarter. Martingale Asset Management L P grew its position in Phillips 66 by 513.4% in the third quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock valued at $1,874,000 after purchasing an additional 13,912 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Phillips 66 by 22.1% in the third quarter. Canada Pension Plan Investment Board now owns 21,010 shares of the oil and gas company’s stock valued at $2,368,000 after purchasing an additional 3,800 shares in the last quarter. Westpac Banking Corp grew its position in Phillips 66 by 2.9% in the third quarter. Westpac Banking Corp now owns 38,186 shares of the oil and gas company’s stock valued at $4,304,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in Phillips 66 by 15.9% in the third quarter. Panagora Asset Management Inc. now owns 40,844 shares of the oil and gas company’s stock valued at $4,604,000 after purchasing an additional 5,596 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PSX. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and raised their target price for the company from $105.00 to $107.00 in a research report on Monday, April 15th. Citigroup raised their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Argus decreased their price objective on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $120.18.

Shares of PSX traded down $1.04 during midday trading on Friday, reaching $95.42. The stock had a trading volume of 2,400,062 shares, compared to its average volume of 2,135,397. The company has a market cap of $43.35 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08. Phillips 66 has a one year low of $78.44 and a one year high of $123.97.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, topping the 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 net margin of 4.90% and a return on equity of 21.71%. During the same quarter in the previous year, the firm posted $1.07 EPS. Analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

In related news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

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Phillips 66 Company Profile

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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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