Northern Capital Management LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 19.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,226 shares of the company’s stock after buying an additional 1,000 shares during the period. Northern Capital Management LLC’s holdings in Phillips 66 were worth $494,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Phillips 66 during the second quarter worth $31,281,000. National Pension Service boosted its position in Phillips 66 by 4.3% in the first quarter. National Pension Service now owns 303,287 shares of the company’s stock valued at $26,262,000 after buying an additional 12,508 shares during the period. PGGM Investments boosted its position in Phillips 66 by 98.1% in the second quarter. PGGM Investments now owns 732,347 shares of the company’s stock valued at $58,104,000 after buying an additional 362,634 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Phillips 66 during the second quarter valued at approximately $225,000. Finally, Legal & General Group Plc boosted 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 period. 69.98% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) traded down 0.17% during midday trading on Monday, hitting $80.41. 1,702,832 shares of the company traded hands. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The stock has a market capitalization of $42.04 billion, a P/E ratio of 13.92 and a beta of 1.37. The stock’s 50-day moving average is $78.92 and its 200 day moving average is $80.27.
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 the 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 period in the previous year, the firm posted $1.83 earnings per share. On average, analysts expect that Phillips 66 will post $3.40 earnings per share for the current year.
PSX has been the subject of several recent 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 report on Tuesday, July 5th. TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report 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 stock from $93.00 to $86.00 in a research report 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 stock from $105.00 to $90.00 in a research report on Friday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $86.23.
In related news, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of the stock in a transaction on Wednesday, September 14th. The stock was purchased at an average price of $77.21 per share, for a total transaction of $78,752,192.54. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is currently owned by company 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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