Livingston Group Asset Management CO operating as Southport Capital Management decreased its stake in shares of Phillips 66 (NYSE:PSX) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 5,868 shares of the company’s stock after selling 119 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Phillips 66 were worth $466,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in PSX. Cribstone Capital Management LLC acquired a new stake in shares of Phillips 66 during the second quarter valued at approximately $114,000. Trust Co. of Vermont boosted its position 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 in the last quarter. Financial Architects Inc boosted its position 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 in the last quarter. CWM LLC boosted its position 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 in the last quarter. Finally, Daiwa SB Investments Ltd. boosted its position 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 in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
Phillips 66 (NYSE:PSX) traded up 1.60% during midday trading on Friday, hitting $80.55. 2,819,914 shares of the stock were exchanged. The firm 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 cap of $42.12 billion, a P/E ratio of 13.94 and a beta of 1.38. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $1.83 EPS. On average, equities research analysts anticipate that Phillips 66 will post $3.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 3.13%. Phillips 66’s dividend payout ratio (DPR) is 43.83%.
PSX has been the subject of several analyst reports. Vetr cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 target price for the company. in a research note on Tuesday, July 5th. TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Barclays PLC cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $93.00 to $86.00 in a research note on Wednesday, July 13th. Finally, Morgan Stanley cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $105.00 to $90.00 in a research note on Friday, June 17th. Fourteen 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $86.23.
In other news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were purchased 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 SEC, which is available through this hyperlink. 0.05% of the stock is currently 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.
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