Cadinha & Co. LLC continued to hold its stake in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,253 shares of the oil and gas company’s stock at the end of the 2nd quarter. Cadinha & Co. LLC’s holdings in Phillips 66 were worth $269,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PSX. BlackRock Inc. boosted its stake in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after acquiring an additional 26,676,647 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after acquiring an additional 3,943,299 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after acquiring an additional 1,396,918 shares in the last quarter. New England Asset Management Inc. acquired a new stake in Phillips 66 in the first quarter valued at approximately $104,095,000. Finally, State Street Corp boosted its stake in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares in the last quarter. Institutional investors own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) opened at 85.73 on Wednesday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The stock has a market cap of $43.85 billion, a PE ratio of 25.64 and a beta of 1.20. The stock’s 50 day moving average is $83.84 and its 200-day moving average is $80.25.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same quarter last year, the firm posted $0.94 EPS. On average, analysts predict that Phillips 66 will post $4.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.27%. Phillips 66’s dividend payout ratio is presently 83.58%.
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Several equities research analysts have recently commented on PSX shares. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Barclays PLC reiterated an “equal weight” rating and set a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Finally, TheStreet downgraded shares of Phillips 66 from a “b-” rating to a “c” rating in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $83.93.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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