Check Capital Management Inc. CA Boosts Stake in Phillips 66 (PSX)

Check Capital Management Inc. CA increased its stake in Phillips 66 (NYSE:PSX) by 98.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 355,366 shares of the oil and gas company’s stock after purchasing an additional 176,193 shares during the period. Phillips 66 makes up 1.0% of Check Capital Management Inc. CA’s holdings, making the stock its 20th biggest holding. Check Capital Management Inc. CA owned 0.07% of Phillips 66 worth $32,555,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. BlackRock Inc. increased its position in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after purchasing an additional 26,676,647 shares during the period. OppenheimerFunds Inc. increased its position in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after purchasing an additional 3,943,299 shares during the period. FMR LLC increased its position in shares of Phillips 66 by 37.1% in the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after purchasing an additional 2,036,258 shares during the period. Clearbridge Investments LLC increased its position in shares of Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after purchasing an additional 1,396,918 shares during the period. Finally, New England Asset Management Inc. bought a new position in shares of Phillips 66 in the first quarter worth $104,095,000. Institutional investors own 69.81% of the company’s stock.

Phillips 66 (NYSE:PSX) traded up $0.19 during trading hours on Friday, hitting $92.65. The stock had a trading volume of 1,258,365 shares, compared to its average volume of 2,226,717. The company has a market capitalization of $46,850.00, a PE ratio of 26.75, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. The company had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the previous year, the firm earned $1.05 earnings per share. equities analysts forecast that Phillips 66 will post 4.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be paid a $0.70 dividend. 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 Thursday, November 16th. Phillips 66’s dividend payout ratio is currently 70.53%.

Phillips 66 declared that its board has approved a share buyback program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 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 document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

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A number of research analysts recently commented on PSX shares. Wells Fargo & Company restated a “market perform” rating and issued a $91.00 price target (up previously from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. UBS AG lifted their target price on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. Howard Weil upgraded Phillips 66 from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. J P Morgan Chase & Co lifted their target price on Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Finally, Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 currently has an average rating of “Hold” and an average target price of $93.25.

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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