Acadian Asset Management LLC Has $74.95 Million Position in Phillips 66 (PSX)

Acadian Asset Management LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 664,919 shares of the oil and gas company’s stock after selling 29,851 shares during the period. Acadian Asset Management LLC’s holdings in Phillips 66 were worth $74,949,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in Phillips 66 by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 119,920 shares of the oil and gas company’s stock worth $13,517,000 after acquiring an additional 924 shares during the last quarter. Arizona State Retirement System lifted its position in Phillips 66 by 3.9% during the 3rd quarter. Arizona State Retirement System now owns 195,059 shares of the oil and gas company’s stock worth $21,987,000 after acquiring an additional 7,344 shares during the last quarter. GWM Advisors LLC lifted its position in Phillips 66 by 14.0% during the 3rd quarter. GWM Advisors LLC now owns 24,704 shares of the oil and gas company’s stock worth $2,785,000 after acquiring an additional 3,037 shares during the last quarter. Terra Nova Asset Management LLC lifted its position in Phillips 66 by 103.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 5,805 shares of the oil and gas company’s stock worth $654,000 after acquiring an additional 2,950 shares during the last quarter. Finally, YHB Investment Advisors Inc. lifted its position in Phillips 66 by 34.1% during the 3rd quarter. YHB Investment Advisors Inc. now owns 3,674 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 935 shares during the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Wednesday, August 1st. Mizuho assumed coverage on shares of Phillips 66 in a research report on Wednesday, August 1st. They set a “neutral” rating and a $124.00 target price for the company. Citigroup boosted their target price on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Barclays raised shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $133.00 to $128.00 in a research report on Wednesday, October 3rd. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $121.79.

Shares of PSX opened at $102.82 on Thursday. The stock has a market cap of $47.06 billion, a PE ratio of 23.47, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82. Phillips 66 has a 52 week low of $89.14 and a 52 week high of $123.97.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.60. The business had revenue of $30.59 billion during the quarter, compared to analyst estimates of $28.50 billion. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same quarter in the prior year, the business earned $1.66 earnings per share. Equities analysts predict that Phillips 66 will post 8.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, November 16th. Phillips 66’s dividend payout ratio is currently 73.06%.

Phillips 66 Company Profile

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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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