Loudon Investment Management LLC Takes Position in Phillips 66 (PSX)
Loudon Investment Management LLC bought a new stake in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,327 shares of the oil and gas company’s stock, valued at approximately $213,000.
Other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its stake in shares of 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 worth $100,000 after acquiring an additional 277 shares in the last quarter. Motco grew its stake in shares of Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 50 shares in the last quarter. Ffcm LLC acquired a new position in shares of Phillips 66 in the second quarter worth $113,000. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 in the second quarter worth $112,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Phillips 66 in the second quarter worth $116,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
Several research firms have commented on PSX. Barclays set a $95.00 price target on shares of Phillips 66 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. Scotiabank restated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Jefferies Group restated a “hold” rating and issued a $78.00 price target on shares of Phillips 66 in a research note on Tuesday, September 5th. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a research note on Monday, October 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $93.25.
Phillips 66 (NYSE:PSX) traded up $1.24 during trading on Wednesday, hitting $94.05. 1,584,100 shares of the stock traded hands, compared to its average volume of 2,203,742. The stock has a market cap of $47,660.00, a PE ratio of 26.99, a P/E/G ratio of 2.41 and a beta of 1.20. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $95.00. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The business had revenue of $26.21 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.05 EPS. sell-side analysts expect that Phillips 66 will post 4.58 earnings per share for the current year.
Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.98%. Phillips 66’s dividend payout ratio (DPR) is currently 70.53%.
About Phillips 66
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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