SignalPoint Asset Management LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 7,203 shares of the company’s stock after buying an additional 231 shares during the period. SignalPoint Asset Management LLC’s holdings in Phillips 66 were worth $571,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Cribstone Capital Management LLC acquired a new stake in shares of Phillips 66 during the second quarter valued at about $114,000. Trust Co. of Vermont raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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. 69.98% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE:PSX) traded down 0.73% during mid-day trading on Tuesday, reaching $79.82. The company had a trading volume of 1,975,094 shares. The company has a market capitalization of $41.73 billion, a PE ratio of 13.82 and a beta of 1.37. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12. The firm has a 50-day moving average of $78.92 and a 200 day moving average of $80.27.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm earned $1.83 earnings per share. On average, analysts predict that Phillips 66 will post $3.40 earnings per share for the current fiscal year.
PSX has been the subject of several research analyst reports. Vetr lowered 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 raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Barclays PLC lowered Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $86.00 in a report on Wednesday, July 13th. Finally, Morgan Stanley lowered 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 report on Friday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $86.23.
In other news, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of Phillips 66 stock in a transaction that occurred on Wednesday, September 14th. The stock was bought at an average price of $77.21 per share, for a total transaction of $78,752,192.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
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.