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

Mae Love
December 8, 2017

This public company's current market capitalization stands at $50.40 billion. Phillips 66 earnings have declined with an annualized rate of -17.1% over the last 5 years.

Additionally, according to the most recent 13F filing from Phillips 66 (PSX), there were 84 new positions totaling 2,208,814 shares of the company's stock. 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. Piper Jaffray Companies reaffirmed a "buy" rating and issued a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th.

Among 18 analysts covering Phillips 66 (NYSE:PSX), 8 have Buy rating, 2 Sell and 8 Hold. A 8 analysts rate it as either a buy or a strong buy, while 0 believe that investors should either steer clear of (NYSE:HBI) or, if they already own its stock, sell it. Phillips 66 has an average rating of "Hold" and a consensus price target of $93.25.

Traders bought shares of Phillips 66 (NYSE:PSX) on weakness during trading hours on Wednesday. The company has market cap of $1.71 billion.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31.

Spears Abacus Advisors Llc increased Phillips 66 (PSX) stake by 45.49% reported in 2017Q2 SEC filing.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.04.

More recent Phillips 66 (NYSE:PSX) news were published by: Seekingalpha.com which released: "3 Reasons Phillips 66 Is Closing In On $100/Share" on December 04, 2017. The business had revenue of $26.21 billion during the quarter, compared to analysts' expectations of $29.94 billion.

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On a similar note, analysts expect EPS of $1.28 in December 2017 quarter and $1.29 in March 2018 quarter, representing 700% and 130.36% growth, respectively.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Qci Asset Ny invested in 0% or 62 shares. Finance.Yahoo.com's news article titled: "Phillips 66 (PSX): Ex-Dividend Is Coming In 3 Days, Should You Buy?" with publication date: November 12, 2017 was also an interesting one. Phillips 66's dividend payout ratio (DPR) is 70.18%. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases.

Chukwuemeka Oyolu has seen steady activity on the sell side, and on September 19, 2017, executed an option to sell 1151 shares. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The stock increased 0.33% or $0.3244 during the last trading session, reaching $97.9144.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sii Investments Inc. WI now owns 70,508 shares of the oil and gas company's stock worth $5,588,000 after purchasing an additional 1,638 shares during the period. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 0.4% during the second quarter. New England Asset Management Inc. purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $104,095,000. State Street Corp raised its holdings in shares of Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company's stock worth $1,908,079,000 after acquiring an additional 921,895 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Phillips 66 by 81.2% during the second 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 buying an additional 71,098 shares during the period.

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

The other highlight this year has been the company's midstream segment, where year-to-date earnings rose to $208 million, versus $154 million in the prior-year period.

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