Acadian Asset Management LLC Has $67.61 Million Stake in Phillips 66 (PSX)
Acadian Asset Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 94.5% in the 4th quarter, HoldingsChannel reports. The fund owned 668,397 shares of the oil and gas company’s stock after purchasing an additional 324,680 shares during the quarter. Acadian Asset Management LLC’s holdings in Phillips 66 were worth $67,606,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in Phillips 66 by 37.1% during the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after purchasing an additional 2,036,258 shares during the period. Vaughan David Investments Inc. IL grew its holdings in Phillips 66 by 5,820.5% during the third quarter. Vaughan David Investments Inc. IL now owns 468,782 shares of the oil and gas company’s stock worth $21,395,000 after purchasing an additional 460,864 shares during the period. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock worth $626,438,000 after purchasing an additional 422,652 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Phillips 66 by 29.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,459,200 shares of the oil and gas company’s stock worth $120,661,000 after purchasing an additional 334,915 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Phillips 66 by 47.6% during the second quarter. Principal Financial Group Inc. now owns 933,829 shares of the oil and gas company’s stock worth $77,217,000 after purchasing an additional 301,330 shares during the period. Institutional investors own 70.12% of the company’s stock.
Shares of Phillips 66 (PSX) opened at $105.29 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market cap of $53,350.00, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $106.91.
Phillips 66 (NYSE:PSX) last issued 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 firm had revenue of $26.21 billion during 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 business posted $1.05 earnings per share. sell-side analysts anticipate that Phillips 66 will post 4.36 EPS for the current fiscal year.
Phillips 66 announced that its board has authorized a share repurchase plan on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.
A number of research firms recently commented on PSX. Barclays set a $95.00 price target on Phillips 66 and gave the stock an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reiterated a “buy” rating and set a $112.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a report on Monday, October 16th. Cowen reiterated a “buy” rating and set a $101.00 price target on shares of Phillips 66 in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $96.66.
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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