Wallington Asset Management LLC cut its holdings in Phillips 66 (NYSE:PSX) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,883 shares of the oil and gas company’s stock after selling 352 shares during the quarter. Phillips 66 makes up 2.5% of Wallington Asset Management LLC’s portfolio, making the stock its 15th largest position. Wallington Asset Management LLC’s holdings in Phillips 66 were worth $8,433,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its position in Phillips 66 by 13.6% in the third 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. Vanguard Group Inc increased its position in Phillips 66 by 2.8% in the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after purchasing an additional 885,979 shares during the period. FMR LLC increased 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 worth $1,617,273,000 after purchasing an additional 1,188,567 shares during the period. Wells Fargo & Company MN increased its position in Phillips 66 by 0.5% in the third quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock worth $954,557,000 after purchasing an additional 39,493 shares during the period. Finally, Bank of New York Mellon Corp increased 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 worth $724,735,000 after purchasing an additional 36,370 shares during the period. Institutional investors own 70.76% of the company’s stock.
In other Phillips 66 news, Director J Brian Ferguson acquired 21,500 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average price of $92.31 per share, for a total transaction of $1,984,665.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.56% of the company’s stock.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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. Phillips 66 had a return on equity of 22.18% and a net margin of 4.90%. The business had revenue of $29.84 billion for the quarter, compared to analysts’ expectations of $35.51 billion. During the same quarter in the previous year, the business posted $1.07 EPS. On average, research analysts expect that Phillips 66 will post 8.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, February 15th. Phillips 66’s dividend payout ratio (DPR) is presently 27.33%.
PSX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Co raised their target price on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Finally, Raymond James reduced their target price on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, December 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $123.62.
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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, 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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