Trust Investment Advisors Has $1.16 Million Position in Phillips 66 (PSX)
Trust Investment Advisors trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 16.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,635 shares of the oil and gas company’s stock after selling 2,450 shares during the period. Trust Investment Advisors’ holdings in Phillips 66 were worth $1,157,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its holdings in Phillips 66 by 27.4% in the first 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 period. Motco grew its holdings in Phillips 66 by 4.0% in the second 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 during the period. Ffcm LLC acquired a new stake in Phillips 66 in the second quarter valued at approximately $113,000. Bruderman Asset Management LLC acquired a new stake in Phillips 66 in the second quarter valued at approximately $112,000. Finally, Meeder Asset Management Inc. acquired a new stake in Phillips 66 in the second quarter valued at approximately $116,000. 69.81% of the stock is currently owned by hedge funds and other institutional investors.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by insiders.
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Several brokerages have commented on PSX. Barclays PLC set a $95.00 price objective on Phillips 66 and gave the company 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 reaffirmed a “hold” rating and issued a $78.00 price target on shares of Phillips 66 in a research note on Tuesday, September 5th. BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target on the stock in a research note on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $93.33.
Phillips 66 (NYSE PSX) traded down $0.49 during trading hours on Wednesday, reaching $92.83. The company’s stock had a trading volume of 1,774,900 shares, compared to its average volume of 2,232,967. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $95.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. The stock has a market capitalization of $47,734.18, a P/E ratio of 26.89, a P/E/G ratio of 2.40 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. equities analysts expect that Phillips 66 will post 4.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.02%. Phillips 66’s dividend payout ratio is currently 70.18%.
Phillips 66 announced that its board has initiated 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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