Bedel Financial Consulting Inc. Purchases Shares of 1,980 Phillips 66 (PSX)
Bedel Financial Consulting Inc. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,980 shares of the oil and gas company’s stock, valued at approximately $200,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after buying an additional 130,653 shares in the last quarter. BlackRock Inc. raised its stake in shares of Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after buying an additional 203,138 shares in the last quarter. FMR LLC raised its stake in shares of Phillips 66 by 37.1% in the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after buying an additional 2,036,258 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 6.6% in the 3rd 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 buying an additional 422,652 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Phillips 66 by 0.4% in the 3rd quarter. Boston Partners now owns 3,107,739 shares of the oil and gas company’s stock worth $284,700,000 after buying an additional 11,610 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at $270,675. 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 owned by insiders.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. The company had revenue of $30.12 billion for the quarter, compared to analyst estimates of $30.71 billion. Phillips 66 had a return on equity of 9.52% and a net margin of 4.88%. During the same period in the previous year, the firm earned $0.16 earnings per share. research analysts anticipate that Phillips 66 will post 7.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is presently 70.53%.
A number of research firms have recently commented on PSX. Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a research note on Thursday, January 11th. Credit Suisse Group began coverage on Phillips 66 in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price objective on the stock. Barclays reissued a “sell” rating and issued a $111.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective on the stock in a research note on Monday, November 27th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $101.64.
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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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