Hanson & Doremus Investment Management reduced its stake in shares of Phillips 66 (NYSE:PSX) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,685 shares of the company’s stock after selling 43 shares during the period. Hanson & Doremus Investment Management’s holdings in Phillips 66 were worth $689,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Phillips 66 during the second quarter valued at $31,281,000. PGGM Investments boosted its position in shares of 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 last quarter. Credit Agricole S A boosted its position in shares of 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. State Street Corp boosted its position in shares of 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. Finally, BNP Paribas Arbitrage SA raised its stake in Phillips 66 by 109.8% in the second quarter. BNP Paribas Arbitrage SA now owns 240,047 shares of the company’s stock valued at $19,045,000 after buying an additional 125,632 shares during the period. 69.97% of the stock is currently owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) traded down 0.38% during mid-day trading on Monday, hitting $79.01. 672,771 shares of the stock were exchanged. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12. The company has a 50-day moving average of $79.50 and a 200-day moving average of $79.90. The stock has a market capitalization of $41.31 billion, a PE ratio of 13.68 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last announced its 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 in the previous year, the company earned $1.83 earnings per share. On average, equities analysts predict that Phillips 66 will post $3.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. Phillips 66’s dividend payout ratio is currently 43.83%.
Several research firms have commented on PSX. Jefferies Group set a $72.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a research note on Saturday. Cowen and Company upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $76.15 to $92.00 in a research note on Wednesday, August 3rd. Goldman Sachs Group Inc. restated a “sell” rating on shares of Phillips 66 in a research note on Wednesday, June 29th. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $90.00 to $89.00 in a research note on Monday, July 11th. Finally, Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price target for the company. in a research note on Wednesday, June 29th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.12.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of Phillips 66 stock in a transaction on Monday, August 22nd. The stock was acquired at an average cost of $77.04 per share, with a total value of $22,350,536.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.
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