Phillips 66 (NYSE:PSX) Shares Bought by Private Ocean LLC

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Private Ocean LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 19.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,342 shares of the oil and gas company’s stock after buying an additional 219 shares during the quarter. Private Ocean LLC’s holdings in Phillips 66 were worth $138,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in Phillips 66 during the second quarter worth $25,000. Atwater Malick LLC bought a new position in Phillips 66 during the third quarter worth $27,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 during the second quarter worth $26,000. Manchester Financial Inc. bought a new position in Phillips 66 during the second quarter worth $32,000. Finally, Coastal Capital Group Inc. bought a new position in Phillips 66 during the second quarter worth $37,000. 69.33% of the stock is owned by institutional investors and hedge funds.

PSX stock traded up $0.13 during mid-day trading on Friday, reaching $119.70. The company had a trading volume of 1,556,669 shares, compared to its average volume of 2,631,109. The company has a quick ratio of 0.84, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.11 and a beta of 1.10. Phillips 66 has a one year low of $78.44 and a one year high of $119.92. The stock’s 50-day simple moving average is $108.48 and its two-hundred day simple moving average is $97.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.51. The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same period last year, the business posted $3.10 earnings per share. On average, research analysts forecast that Phillips 66 will post 8.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 15th. Phillips 66’s payout ratio is 30.74%.

Several brokerages recently issued reports on PSX. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Scotiabank began coverage on Phillips 66 in a research note on Tuesday, September 3rd. They set an “outperform” rating on the stock. Morgan Stanley raised their price objective on Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Macquarie began coverage on Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and an average target price of $118.80.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Read More: Institutional Investors

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).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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