US Capital Advisors Lowers Phillips 66 (PSX) to Hold

The Phillips 66 (PSX) Shares Bought by Wells Fargo & Company MN

FMR LLC raised its holdings in shares of Phillips 66 by 37.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Phillips 66 during the fourth quarter valued at about $89,476,000.

Ruffer Llp, which manages about $2.07 billion US Long portfolio, upped its stake in Kinross Gold Corp (NYSE:KGC) by 7.37M shares to 21.20M shares, valued at $86.16M in 2017Q2, according to the filing. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Meeder Asset Management has invested 0.01% in Phillips 66 (NYSE:PSX). It also reduced its holding in Lhc Group Inc (NASDAQ:LHCG) by 34,206 shares in the quarter, leaving it with 91,917 shares, and cut its stake in Oxford Immunotec Global Plc (NASDAQ:OXFD). First Light Asset Management Llc bought 367,711 shares as the company's stock declined 22.58% while stock markets rallied. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company's stock valued at $2,631,704,000 after purchasing an additional 130,653 shares during the period.

The Phillips 66 (PSX) Shares Bought by Wells Fargo & Company MN
Phillips 66 (PSX): Consensus Estimates and Trading Data

Hedge funds and other institutional investors have recently modified their holdings of the business. Phillips 66 (PSX) has 0 billion shares outstanding now, 71.46% of which belong to institutional investors. 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. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company's stock valued at $696,418,000 after buying an additional 71,098 shares during the period.

Shares of Phillips 66 (PSX) traded up 0.75% during trading on Thursday, reaching $76.68. The stock had a trading volume of 413,321 shares, compared to its average volume of 2,205,543. The company has a market capitalization of $39.57 billion, a price-to-earnings ratio of 23.79 and a beta of 1.33. Phillips 66 has a 1-year low of $73.67 and a 1-year high of $88.87. Also published the news titled: "Phillips 66 reports unplanned flaring at Wilmington, CA, refinery" on November 27, 2017. The other 8 are split, though not evenly, between analysts who think you should buy its stock versus those who think you should sell it. US Capital Advisors also issued estimates for Phillips 66's Q3 2018 earnings at $1.89 EPS and FY2018 earnings at $5.80 EPS. The company's quarterly EPS surprised Wall Street by as much as 6% to the upside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. The business had revenue of $26.21 billion during the quarter, compared to analysts' expectations of $29.94 billion.

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The refining industry was under intense pressure in 2016 due to several headwinds, which weighed on Phillips 66's refining business and pushed profits down from $2.5 billion in 2015 to just $277 million previous year. However, many of those challenges went away this year, which enabled Phillips 66's earnings to rebound, with refining segment profitability hitting $779 million through the third quarter. Investors of record on Tuesday, October 17th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from Phillips 66's previous quarterly dividend of $0.63. Last quarter Phillips 66 noted that the spread between where it buys oil and sells gasoline jumped 24%, helping push its per-barrel margin from $8.44 in the second quarter up to $10.49 in the third. The stock of Phillips 66 (NYSE:PSX) earned "Hold" rating by RBC Capital Markets on Wednesday, October 18. Barclays set a $95.00 price objective on shares of Phillips 66 and gave the company an equal weight rating in a research report on Tuesday, October 10th. Scotiabank reissued a "hold" rating on shares of Phillips 66 in a research report on Friday, September 8th. Jefferies maintained Phillips 66 (NYSE:PSX) rating on Monday, September 4. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. There are brokerage firms with lower targets than the average, including one setting a price target of $77.

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.

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