Carnegie Capital Asset Management LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 2,787.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,986 shares of the oil and gas company’s stock after acquiring an additional 84,939 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Phillips 66 were worth $8,685,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in shares of Phillips 66 by 7.7% during the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock valued at $31,039,000 after acquiring an additional 24,318 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Phillips 66 by 2.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 231,837 shares of the oil and gas company’s stock valued at $23,450,000 after acquiring an additional 5,284 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Phillips 66 by 61.5% during the fourth quarter. State of Alaska Department of Revenue now owns 99,076 shares of the oil and gas company’s stock valued at $10,018,000 after acquiring an additional 37,740 shares during the period. RNC Capital Management LLC increased its stake in shares of Phillips 66 by 0.9% during the fourth quarter. RNC Capital Management LLC now owns 368,056 shares of the oil and gas company’s stock valued at $37,229,000 after acquiring an additional 3,326 shares during the period. Finally, Paragon Capital Management Ltd acquired a new position in shares of Phillips 66 during the fourth quarter valued at approximately $212,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were 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 approximately $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. The firm had revenue of $30.12 billion during the quarter, compared to analyst estimates of $30.71 billion. During the same quarter last year, the business posted $0.16 EPS. analysts forecast that Phillips 66 will post 7.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio is 70.53%.
A number of research firms recently commented on PSX. Vetr lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective on the stock. in a research note on Tuesday, November 21st. Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the stock a “buy” rating in a report on Monday, November 13th. Scotiabank restated a “buy” rating and set a $112.00 target price on shares of Phillips 66 in a report on Wednesday, January 10th. 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Phillips 66 from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $103.89.
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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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