Candriam Luxembourg S.C.A. raised its stake in Phillips 66 (NYSE:PSX) by 29.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 53,181 shares of the company’s stock after buying an additional 11,984 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Phillips 66 were worth $4,220,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in Phillips 66 during the second quarter valued at about $114,000. Trust Co. of Vermont boosted its stake in Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock valued at $153,000 after buying an additional 103 shares during the period. Financial Architects Inc boosted its stake in Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock valued at $160,000 after buying an additional 1,622 shares during the period. CWM LLC boosted its stake in Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock valued at $170,000 after buying an additional 739 shares during the period. Finally, Daiwa SB Investments Ltd. boosted its stake in Phillips 66 by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 2,400 shares of the company’s stock valued at $191,000 after buying an additional 190 shares during the period. 69.98% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded down 2.35% during mid-day trading on Thursday, hitting $79.28. The stock had a trading volume of 4,121,844 shares. The stock has a market cap of $41.45 billion, a P/E ratio of 13.72 and a beta of 1.38. The company has a 50 day moving average price of $78.80 and a 200 day moving average price of $80.46. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the prior year, the company posted $1.83 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $3.40 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 annualized dividend and a yield of 3.18%. Phillips 66’s dividend payout ratio is currently 43.83%.
Several equities research analysts have issued reports on the company. Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 target price for the company. in a research note on Monday, September 19th. Scotiabank lowered Phillips 66 from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Piper Jaffray Cos. raised their price target on Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. TheStreet lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Morgan Stanley restated a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average price target of $85.86.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc bought 215,869 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $77.83 per share, for a total transaction of $16,801,084.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is owned by corporate insiders.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.