Bank of Hawaii boosted its position in shares of Phillips 66 (NYSE:PSX) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,752 shares of the oil and gas company’s stock after purchasing an additional 3,100 shares during the period. Bank of Hawaii owned approximately 7,967.00% of Phillips 66 worth $3,733,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares in the last quarter. Motco grew its holdings in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares in the last quarter. Ffcm LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $113,000. Bruderman Asset Management LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $112,000. Finally, Meeder Asset Management Inc. acquired a new stake in Phillips 66 during the 2nd quarter valued at $116,000. 69.64% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (NYSE PSX) opened at $93.66 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00. The stock has a market cap of $47,908.12, a PE 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same period last year, the firm posted $1.05 EPS. research analysts anticipate that Phillips 66 will post 4.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.99%. Phillips 66’s dividend payout ratio is presently 70.18%.
Phillips 66 announced that its Board of Directors has authorized a stock buyback plan on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have weighed in on the stock. Barclays PLC set a $95.00 price objective on shares of Phillips 66 and gave the stock an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Jefferies Group LLC reissued a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a report on Tuesday, September 5th. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a report on Monday, October 16th. Two research 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. The company presently has a consensus rating of “Hold” and an average price target of $93.33.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.
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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