State of Alaska Department of Revenue grew its position in shares of Phillips 66 (NYSE:PSX) by 61.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 99,076 shares of the oil and gas company’s stock after acquiring an additional 37,740 shares during the quarter. State of Alaska Department of Revenue’s holdings in Phillips 66 were worth $10,018,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $102,000. Motco boosted its position in shares of Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Ffcm LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $113,000. Bruderman Asset Management LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $112,000. Finally, FTB Advisors Inc. boosted its position in shares of Phillips 66 by 112.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) opened at $105.29 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $106.91. The firm has a market capitalization of $53,350.00, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. During the same quarter last year, the firm posted $1.05 earnings per share. sell-side analysts expect that Phillips 66 will post 4.36 EPS for the current year.
Phillips 66 announced that its board has authorized a share repurchase program on Monday, October 9th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.
A number of analysts recently issued reports on PSX shares. Cowen restated a “buy” rating and issued a $101.00 price target on shares of Phillips 66 in a research report on Tuesday, October 17th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a research report on Monday, October 16th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Tuesday, October 10th. Goldman Sachs Group upgraded Phillips 66 from a “neutral” rating to a “buy” rating and raised their price target for the stock from $88.00 to $109.00 in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $98.00 price target on shares of Phillips 66 in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Phillips 66 has an average rating of “Hold” and an average price target of $96.66.
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About Phillips 66
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.
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