TIAA CREF Trust Co. FSB MO Has $1,640,000 Position in Phillips 66 (PSX)
TIAA CREF Trust Co. FSB MO reduced its position in shares of Phillips 66 (NYSE:PSX) by 8.3% during the third quarter, Holdings Channel reports. The fund owned 20,354 shares of the company’s stock after selling 1,840 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in Phillips 66 were worth $1,640,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Delta Lloyd NV raised its stake in shares of Phillips 66 by 14.4% in the third quarter. Delta Lloyd NV now owns 35,208 shares of the company’s stock worth $2,836,000 after buying an additional 4,425 shares during the last quarter. Cidel Asset Management Inc. raised its stake in shares of Phillips 66 by 14.0% in the third quarter. Cidel Asset Management Inc. now owns 215,450 shares of the company’s stock worth $17,354,000 after buying an additional 26,442 shares during the last quarter. Ingalls & Snyder LLC raised its stake in shares of Phillips 66 by 10.3% in the third quarter. Ingalls & Snyder LLC now owns 53,292 shares of the company’s stock worth $4,293,000 after buying an additional 4,975 shares during the last quarter. AMG National Trust Bank raised its stake in shares of Phillips 66 by 4.1% in the third quarter. AMG National Trust Bank now owns 17,698 shares of the company’s stock worth $1,426,000 after buying an additional 693 shares during the last quarter. Finally, Biondo Investment Advisors LLC raised its stake in shares of Phillips 66 by 1.1% in the third quarter. Biondo Investment Advisors LLC now owns 39,327 shares of the company’s stock worth $3,168,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.84% during mid-day trading on Wednesday, hitting $83.08. 4,999,424 shares of the company traded hands. The firm has a market cap of $43.27 billion, a price-to-earnings ratio of 21.75 and a beta of 1.35. The firm has a 50-day moving average price of $81.39 and a 200 day moving average price of $79.21. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $93.00.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period in the previous year, the firm earned $3.02 EPS. Equities research analysts anticipate that Phillips 66 will post $3.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.52 annualized dividend and a yield of 3.03%. Phillips 66’s dividend payout ratio is presently 66.14%.
A number of brokerages have recently weighed in on PSX. Jefferies Group set a $72.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, October 15th. Barclays PLC reaffirmed an “equal weight” rating and issued a $84.00 target price (down from $86.00) on shares of Phillips 66 in a research report on Monday, October 10th. Goldman Sachs Group Inc. raised shares of Phillips 66 from a “sell” rating to a “neutral” rating and increased their target price for the company from $74.00 to $85.00 in a research report on Thursday, September 29th. Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Vetr raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $94.28 target price on the stock in a research report on Tuesday, September 27th. Fourteen equities research analysts have rated the stock with a hold rating, six 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 target price of $86.12.
In other news, major shareholder Berkshire Hathaway Inc purchased 82,361 shares of the stock in a transaction dated Thursday, September 1st. The stock was acquired at an average price of $77.86 per share, for a total transaction of $6,412,627.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Timothy Garth Taylor sold 27,260 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $82.91, for a total transaction of $2,260,126.60. Following the transaction, the president now owns 68,878 shares of the company’s stock, valued at approximately $5,710,674.98. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
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 its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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