Micawber Capital LLC cut its position in Phillips 66 (NYSE:PSX) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,185 shares of the oil and gas company’s stock after selling 4,923 shares during the quarter. Phillips 66 comprises about 4.8% of Micawber Capital LLC’s portfolio, making the stock its 6th biggest holding. Micawber Capital LLC’s holdings in Phillips 66 were worth $3,040,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. BlackRock Inc. boosted its stake in Phillips 66 by 2,329.3% in the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after purchasing an additional 26,676,647 shares during the period. OppenheimerFunds Inc. boosted its stake in Phillips 66 by 599.8% in the 1st quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after purchasing an additional 3,943,299 shares during the period. FMR LLC boosted its stake in Phillips 66 by 37.1% in the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after purchasing an additional 2,036,258 shares during the period. Clearbridge Investments LLC boosted its stake in Phillips 66 by 4,771.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after purchasing an additional 1,396,918 shares during the period. Finally, New England Asset Management Inc. bought a new stake in Phillips 66 in the 1st quarter valued at $104,095,000. Institutional investors and hedge funds own 69.81% of the company’s stock.
Several research firms recently issued reports on PSX. Jefferies Group LLC downgraded Phillips 66 from a “hold” rating to an “underperform” rating and reduced their price target for the company from $95.00 to $75.14 in a research note on Monday, October 16th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Argus reaffirmed a “buy” rating and issued a $108.00 price objective (up from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Barclays PLC set a $95.00 price objective on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Finally, Goldman Sachs Group, Inc. (The) raised Phillips 66 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $109.00 in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $93.33.
Phillips 66 (NYSE PSX) opened at $94.10 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $95.00. The company has a market capitalization of $47,460.00, a price-to-earnings ratio of 26.99, a PEG ratio of 2.41 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. research analysts expect that Phillips 66 will post 4.58 earnings per share for the current fiscal year.
Phillips 66 declared that its Board of Directors has initiated a share repurchase program on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.98%. Phillips 66’s payout ratio is presently 70.53%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.
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Phillips 66 Company 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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