UBS Asset Management Americas Inc. reduced its position in Phillips 66 (NYSE:PSX) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,568,383 shares of the oil and gas company’s stock after selling 86,210 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Phillips 66 were worth $158,642,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Phillips 66 by 0.4% in the 4th quarter. BlackRock Inc. now owns 27,591,121 shares of the oil and gas company’s stock worth $2,790,841,000 after buying an additional 119,373 shares during the period. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 7,098,574 shares of the oil and gas company’s stock worth $718,021,000 after buying an additional 260,478 shares during the period. Boston Partners raised its position in shares of Phillips 66 by 0.4% in the 3rd quarter. Boston Partners now owns 3,107,739 shares of the oil and gas company’s stock worth $284,700,000 after buying an additional 11,610 shares during the period. Legal & General Group Plc raised its position in shares of Phillips 66 by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 2,769,247 shares of the oil and gas company’s stock worth $253,691,000 after buying an additional 33,298 shares during the period. Finally, Santa Barbara Asset Management LLC raised its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Santa Barbara Asset Management LLC now owns 2,218,582 shares of the oil and gas company’s stock worth $203,244,000 after buying an additional 10,734 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.
PSX has been the topic of several research reports. Barclays lowered Phillips 66 from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $95.00 to $100.00 in a research report on Tuesday, November 14th. Goldman Sachs Group raised Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Credit Suisse Group initiated coverage on Phillips 66 in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price objective on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $102.00 price objective on shares of Phillips 66 in a research report on Wednesday, December 20th. Finally, US Capital Advisors lowered Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $103.89.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the transaction, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
Phillips 66 (PSX) opened at $91.99 on Monday. The company has a market capitalization of $42,913.34, a PE ratio of 21.00, a P/E/G ratio of 1.50 and a beta of 1.11. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.21. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $30.71 billion. Phillips 66 had a return on equity of 9.52% and a net margin of 4.88%. During the same period last year, the firm earned $0.16 earnings per share. analysts anticipate that Phillips 66 will post 7.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Phillips 66’s dividend payout ratio (DPR) is 28.20%.
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Phillips 66 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.
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