General American Investors Co. Inc. Acquires 28,000 Shares of Phillips 66 (PSX)

General American Investors Co. Inc. increased its holdings in Phillips 66 (NYSE:PSX) by 20.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 168,000 shares of the oil and gas company’s stock after purchasing an additional 28,000 shares during the quarter. Phillips 66 makes up about 1.5% of General American Investors Co. Inc.’s investment portfolio, making the stock its 26th largest position. General American Investors Co. Inc.’s holdings in Phillips 66 were worth $14,473,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Torray LLC lifted its holdings in Phillips 66 by 0.6% in the 4th quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock valued at $1,461,000 after purchasing an additional 106 shares in the last quarter. Pflug Koory LLC lifted its holdings in Phillips 66 by 3.2% in the 4th quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 110 shares in the last quarter. Coastline Trust Co lifted its holdings in Phillips 66 by 0.7% in the 4th quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock valued at $1,395,000 after purchasing an additional 111 shares in the last quarter. First Foundation Advisors lifted its holdings in Phillips 66 by 2.1% in the 4th quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock valued at $462,000 after purchasing an additional 112 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its holdings in Phillips 66 by 0.9% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 13,164 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.

A number of research analysts have recently commented on the stock. Argus dropped their price objective on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Citigroup upped their price objective on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, Raymond James dropped their price objective on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and an average target price of $120.27.

In related news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

NYSE PSX opened at $95.98 on Monday. The stock has a market cap of $43.66 billion, a PE ratio of 8.20, a P/E/G ratio of 1.38 and a beta of 0.94. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $123.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.76 by $2.11. The firm had revenue of $29.84 billion during the quarter, compared to the consensus estimate of $35.51 billion. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. During the same quarter in the prior year, the company earned $1.07 EPS. On average, analysts expect that Phillips 66 will post 8.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 19th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, February 15th. Phillips 66’s dividend payout ratio (DPR) is presently 27.33%.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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