UBS Asset Management Americas Inc. Purchases 15,337 Shares of Phillips 66 (PSX)
UBS Asset Management Americas Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 1,452,552 shares of the company’s stock after buying an additional 15,337 shares during the period. UBS Asset Management Americas Inc.’s holdings in Phillips 66 were worth $117,003,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Cognios Capital LLC increased its position in Phillips 66 by 0.3% in the second quarter. Cognios Capital LLC now owns 2,754 shares of the company’s stock worth $218,000 after buying an additional 9 shares during the period. Benedict Financial Advisors Inc. increased its position in Phillips 66 by 0.4% in the second quarter. Benedict Financial Advisors Inc. now owns 2,685 shares of the company’s stock worth $214,000 after buying an additional 12 shares during the period. Beese Fulmer Investment Management Inc. increased its position in Phillips 66 by 0.3% in the second quarter. Beese Fulmer Investment Management Inc. now owns 3,806 shares of the company’s stock worth $302,000 after buying an additional 13 shares during the period. Alpha Windward LLC increased its position in Phillips 66 by 0.6% in the second quarter. Alpha Windward LLC now owns 3,069 shares of the company’s stock worth $243,000 after buying an additional 18 shares during the period. Finally, Delphi Private Advisors LLC increased its position in Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock worth $141,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 68.27% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 83.08 on Thursday. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $93.00. The stock’s 50 day moving average is $81.36 and its 200-day moving average is $79.18. The stock has a market capitalization of $43.27 billion, a price-to-earnings ratio of 21.75 and a beta of 1.35.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 28th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company 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 announced 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. This represents a $2.52 annualized dividend and a yield of 3.03%. The ex-dividend date is Tuesday, November 15th. Phillips 66’s dividend payout ratio is currently 66.14%.
A number of equities analysts have recently weighed in on the company. Jefferies Group set a $72.00 target price on Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, October 15th. Cowen and Company upgraded Phillips 66 from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $76.15 to $92.00 in a research note on Wednesday, August 3rd. Vetr downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 target price on the stock. in a research note on Monday, September 19th. Barclays PLC restated an “equal weight” rating and issued a $84.00 target price (down previously from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Finally, Zacks Investment Research upgraded Phillips 66 from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 28th. Fourteen 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. Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $86.12.
In other Phillips 66 news, VP Lawrence Michael Ziemba sold 72,630 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $80.20, for a total value of $5,824,926.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 1,019,974 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was acquired at an average price of $77.21 per share, for a total transaction of $78,752,192.54. The disclosure for this purchase 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.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.