Empirical Asset Management LLC raised its stake in Phillips 66 (NYSE:PSX – Free Report) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,802 shares of the oil and gas company’s stock after acquiring an additional 757 shares during the quarter. Empirical Asset Management LLC’s holdings in Phillips 66 were worth $3,129,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of PSX. Wellington Management Group LLP lifted its holdings in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Boston Partners increased its position in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after purchasing an additional 1,408,954 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on Phillips 66
Phillips 66 Trading Down 0.6 %
PSX traded down $0.77 during mid-day trading on Monday, hitting $135.58. 92,321 shares of the stock were exchanged, compared to its average volume of 2,695,594. The firm’s fifty day moving average is $133.24 and its two-hundred day moving average is $141.38. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $57.48 billion, a PE ratio of 10.49, a PEG ratio of 5.48 and a beta of 1.33.
Phillips 66 (NYSE:PSX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the prior year, the business earned $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Phillips 66 will post 8.19 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.39%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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