Candriam Luxembourg S.C.A. raised its holdings in Phillips 66 (NYSE:PSX) by 22.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 49,649 shares of the oil and gas company’s stock after purchasing an additional 9,009 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Phillips 66 were worth $5,531,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its stake in shares of Phillips 66 by 12.3% during the third quarter. Capital Advisors Ltd. LLC now owns 852 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 93 shares during the period. Unison Advisors LLC increased its stake in shares of Phillips 66 by 0.8% during the fourth quarter. Unison Advisors LLC now owns 11,780 shares of the oil and gas company’s stock worth $1,312,000 after purchasing an additional 97 shares during the period. Somerset Trust Co increased its stake in shares of Phillips 66 by 0.5% during the third quarter. Somerset Trust Co now owns 18,425 shares of the oil and gas company’s stock worth $1,887,000 after purchasing an additional 98 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in Phillips 66 by 2.5% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,064 shares of the oil and gas company’s stock worth $416,000 after buying an additional 100 shares in the last quarter. Finally, BancorpSouth Bank grew its position in Phillips 66 by 2.3% during the third quarter. BancorpSouth Bank now owns 4,541 shares of the oil and gas company’s stock worth $465,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.
PSX has been the topic of a number of analyst reports. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, October 29th. Royal Bank of Canada reissued a “hold” rating and set a $106.00 price target on shares of Phillips 66 in a research report on Monday, February 3rd. Raymond James reduced their price target on Phillips 66 from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Credit Suisse Group reduced their price target on Phillips 66 from $122.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Barclays initiated coverage on Phillips 66 in a research report on Tuesday, January 14th. They set an “overweight” rating and a $122.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $119.25.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.01. The firm had revenue of $29.61 billion for the quarter, compared to the consensus estimate of $27.30 billion. Phillips 66 had a return on equity of 13.52% and a net margin of 2.81%. During the same quarter last year, the business posted $4.87 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 9.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, February 14th. Phillips 66’s dividend payout ratio is presently 44.72%.
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; 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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