Phillips 66 (PSX) Shares Bought by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 29.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,459,200 shares of the oil and gas company’s stock after acquiring an additional 334,915 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.29% of Phillips 66 worth $120,661,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Phillips 66 by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after acquiring an additional 130,653 shares in the last quarter. BlackRock Inc. grew its stake in Phillips 66 by 0.7% during the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after acquiring an additional 203,138 shares in the last quarter. State Street Corp grew its stake in Phillips 66 by 4.0% during the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Phillips 66 by 4.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after acquiring an additional 585,176 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Phillips 66 by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after acquiring an additional 71,098 shares in the last quarter. 69.54% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the company. Barclays PLC set a $95.00 price target on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reiterated a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. 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. Finally, BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $93.22.

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Shares of Phillips 66 (NYSE:PSX) opened at 90.24 on Thursday. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $95.00. The company has a 50-day moving average price of $89.37 and a 200 day moving average price of $82.65. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 27.00 and a beta of 1.19.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company earned $0.94 earnings per share. Equities research analysts expect that Phillips 66 will post $4.31 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Phillips 66’s dividend payout ratio is 83.58%.

In other Phillips 66 news

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Phillips 66 by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after acquiring an additional 130,653 shares in the last quarter. BlackRock Inc. grew its stake in Phillips 66 by 0.7% during the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after acquiring an additional 203,138 shares in the last quarter. State Street Corp grew its stake in Phillips 66 by 4.0% during the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Phillips 66 by 4.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after acquiring an additional 585,176 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Phillips 66 by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after acquiring an additional 71,098 shares in the last quarter. 69.54% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the company. Barclays PLC set a $95.00 price target on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reiterated a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. 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. Finally, BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $93.22.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/19/phillips-66-psx-shares-bought-by-parametric-portfolio-associates-llc.html.

Shares of Phillips 66 (NYSE:PSX) opened at 90.24 on Thursday. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $95.00. The company has a 50-day moving average price of $89.37 and a 200 day moving average price of $82.65. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 27.00 and a beta of 1.19.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company earned $0.94 earnings per share. Equities research analysts expect that Phillips 66 will post $4.31 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Phillips 66’s dividend payout ratio is 83.58%.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company 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 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.

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

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