American Research & Management Co. decreased its stake in Phillips 66 (NYSE:PSX) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 4,624 shares of the company’s stock after selling 56 shares during the period. American Research & Management Co.’s holdings in Phillips 66 were worth $367,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in PSX. State Street Corp raised its stake 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 in the last quarter. Legal & General Group Plc raised its stake in shares of 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 in the last quarter. Credit Agricole S A raised its stake 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 in the last quarter. PGGM Investments raised its stake 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 in the last quarter. Finally, Alta Capital Management LLC raised its stake in shares of Phillips 66 by 3.6% in the second quarter. Alta Capital Management LLC now owns 604,729 shares of the company’s stock valued at $47,979,000 after buying an additional 21,093 shares in the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.10% during mid-day trading on Wednesday, hitting $79.67. The company had a trading volume of 1,737,638 shares. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The firm’s 50 day moving average is $79.53 and its 200-day moving average is $79.69. The firm has a market cap of $41.66 billion, a PE ratio of 13.79 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ 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 quarter last year, the company earned $1.83 EPS. On average, equities analysts expect that Phillips 66 will post $3.41 EPS for the current year.
The business 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 annualized dividend and a yield of 3.16%. Phillips 66’s dividend payout ratio (DPR) is currently 43.83%.
Several brokerages have commented on PSX. Barclays PLC restated an “equal weight” rating and set a $84.00 price target (down from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Vetr lowered 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 Tuesday, July 5th. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th. Goldman Sachs Group Inc. restated a “sell” rating on shares of Phillips 66 in a research note on Wednesday, June 29th. Finally, TheStreet upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average target price of $86.12.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc acquired 83,466 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were acquired at an average cost of $78.29 per share, for a total transaction of $6,534,553.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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