GWM Advisors LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,068 shares of the oil and gas company’s stock after selling 1,027 shares during the period. GWM Advisors LLC’s holdings in Phillips 66 were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV purchased a new position in Phillips 66 in the 4th quarter valued at approximately $102,000. First Dallas Securities Inc. purchased a new position in Phillips 66 in the 4th quarter valued at approximately $143,000. FTB Advisors Inc. grew its stake in Phillips 66 by 112.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 780 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $127,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in Phillips 66 in the 3rd quarter valued at approximately $141,000. Institutional investors and hedge funds own 71.09% of the company’s stock.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $30.71 billion. During the same period last year, the firm earned $0.16 EPS. equities research analysts anticipate that Phillips 66 will post 7.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s payout ratio is 28.20%.
A number of research analysts recently weighed in on PSX shares. Scotiabank reiterated a “buy” rating and issued a $112.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Goldman Sachs Group upgraded shares of Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research note on Monday, November 13th. Piper Jaffray Companies set a $93.00 price objective on shares of Phillips 66 and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Phillips 66 in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $103.89.
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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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