3,000 Shares in Phillips 66 (PSX) Acquired by Kayne Anderson Capital Advisors LP
Kayne Anderson Capital Advisors LP bought a new stake in Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,000 shares of the oil and gas company’s stock, valued at approximately $248,000.
Other large investors have also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its stake in Phillips 66 by 27.4% in 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 during the last quarter. Winch Advisory Services LLC raised its holdings in Phillips 66 by 5,872.7% in the 1st quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 1,292 shares during the period. Meeder Asset Management Inc. bought a new position in Phillips 66 in the 2nd quarter valued at about $116,000. Farmers National Bank bought a new position in Phillips 66 in the 1st quarter valued at about $113,000. Finally, Westside Investment Management Inc. raised its holdings in Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 69.53% of the company’s stock.
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In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Phillips 66 (NYSE PSX) opened at 89.89 on Friday. The company has a market capitalization of $45.98 billion, a PE ratio of 26.90 and a beta of 1.20. The stock’s 50 day moving average is $84.43 and its 200 day moving average is $80.63. Phillips 66 has a one year low of $75.14 and a one year high of $90.10.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period in the prior year, the company posted $0.94 EPS. On average, analysts anticipate that Phillips 66 will post $4.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.
PSX has been the topic of several research analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price target on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.93.
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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