Greenleaf Trust maintained its stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The fund owned 3,821 shares of the company’s stock at the end of the second quarter. Greenleaf Trust’s holdings in Phillips 66 were worth $303,000 at the end of the most recent quarter.
Several 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 worth approximately $114,000. Trust Co. of Vermont boosted 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 worth $153,000 after buying an additional 103 shares during the period. Financial Architects Inc boosted 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 worth $160,000 after buying an additional 1,622 shares during the period. CWM LLC boosted 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 worth $170,000 after buying an additional 739 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.166% on Thursday, hitting $80.955. The company had a trading volume of 1,229,159 shares. The stock’s 50-day moving average is $79.04 and its 200 day moving average is $80.20. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of 14.013 and a beta of 1.37. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping 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 firm earned $1.83 earnings per share. Equities analysts expect that Phillips 66 will post $3.40 EPS for the current year.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Phillips 66 in a research report on Sunday, June 12th. Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price target for the company in a research report on Monday, September 12th. Finally, 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. 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 has an average rating of “Hold” and an average target price of $86.23.
In other news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of Phillips 66 stock in a transaction dated Tuesday, August 23rd. The stock was purchased at an average cost of $77.83 per share, for a total transaction of $16,801,084.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by insiders.
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.
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