Community Bank & Trust Waco Texas raised its stake in shares of Phillips 66 (NYSE:PSX) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 10,963 shares of the company’s stock after buying an additional 1,198 shares during the period. Community Bank & Trust Waco Texas’ holdings in Phillips 66 were worth $870,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in Phillips 66 by 1.5% in the first quarter. State Street Corp now owns 23,555,046 shares of the company’s stock valued at $2,039,627,000 after buying an additional 358,052 shares during the last quarter. BlackRock Group LTD increased its position in Phillips 66 by 5.1% in the first quarter. BlackRock Group LTD now owns 5,211,834 shares of the company’s stock valued at $451,292,000 after buying an additional 252,187 shares during the last quarter. Legal & General Group Plc increased its position in Phillips 66 by 3.1% in the first quarter. Legal & General Group Plc now owns 2,620,091 shares of the company’s stock valued at $226,871,000 after buying an additional 78,072 shares during the last quarter. Prudential Financial Inc. increased its position in Phillips 66 by 2.4% in the first quarter. Prudential Financial Inc. now owns 2,327,531 shares of the company’s stock valued at $201,541,000 after buying an additional 55,450 shares during the last quarter. Finally, Credit Agricole S A increased its position in Phillips 66 by 39.2% in the first quarter. Credit Agricole S A now owns 1,286,433 shares of the company’s stock valued at $111,393,000 after buying an additional 362,468 shares during the last quarter. 69.98% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE:PSX) traded up 1.60% on Friday, hitting $80.55. 2,819,781 shares of the company were exchanged. The company has a 50 day moving average price of $78.80 and a 200-day moving average price of $80.46. The stock has a market capitalization of $42.12 billion, a P/E ratio of 13.94 and a beta of 1.38. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same quarter last year, the company posted $1.83 earnings per share. On average, equities analysts expect that Phillips 66 will post $3.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Tuesday, August 16th. Phillips 66’s payout ratio is currently 43.83%.
Several equities research analysts have recently weighed in on the stock. Jefferies Group assumed coverage on shares of Phillips 66 in a research report on Tuesday, August 23rd. They set a “hold” rating and a $72.00 price objective for the company. Morgan Stanley cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $105.00 to $90.00 in a research report on Friday, June 17th. Zacks Investment Research upgraded shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Finally, Wells Fargo & Co. cut shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a research report on Friday, July 8th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $86.23.
In related news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of Phillips 66 stock in a transaction on Tuesday, August 23rd. The shares were acquired at an average cost of $77.83 per share, with a total value of $16,801,084.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.
About Phillips 66
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.