Gateway Investment Advisers LLC Has $2.92 Million Position in Phillips 66 (NYSE:PSX)

Gateway Investment Advisers LLC increased its stake in shares of Phillips 66 (NYSE:PSXGet Rating) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,635 shares of the oil and gas company’s stock after purchasing an additional 304 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Phillips 66 were worth $2,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Phillips 66 during the 1st quarter valued at $273,000. NewEdge Wealth LLC raised its position in Phillips 66 by 30.3% in the first quarter. NewEdge Wealth LLC now owns 4,139 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 963 shares during the last quarter. CAPROCK Group Inc. boosted its stake in shares of Phillips 66 by 81.6% during the first quarter. CAPROCK Group Inc. now owns 7,554 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 3,394 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Phillips 66 by 24.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,771 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 738 shares during the period. Finally, Great Valley Advisor Group Inc. raised its holdings in Phillips 66 by 32.3% in the 1st quarter. Great Valley Advisor Group Inc. now owns 13,616 shares of the oil and gas company’s stock valued at $1,174,000 after buying an additional 3,328 shares during the last quarter. Institutional investors own 71.42% of the company’s stock.

Phillips 66 Stock Up 1.2 %

Phillips 66 stock opened at $82.27 on Friday. The company has a market capitalization of $39.58 billion, a PE ratio of 7.09, a PEG ratio of 0.41 and a beta of 1.39. Phillips 66 has a 12-month low of $66.88 and a 12-month high of $111.28. The firm’s fifty day moving average is $86.90 and its 200 day moving average is $88.23. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.

Phillips 66 (NYSE:PSXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.92 by $0.85. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The company had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $40.93 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue was up 76.8% on a year-over-year basis. As a group, sell-side analysts predict that Phillips 66 will post 16.3 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Wednesday, August 17th. Phillips 66’s payout ratio is 33.42%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. StockNews.com lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 10th. The Goldman Sachs Group restated a “buy” rating and issued a $109.00 price objective on shares of Phillips 66 in a report on Friday, July 1st. Cowen cut their target price on Phillips 66 to $96.00 in a report on Tuesday. Wells Fargo & Company increased their price target on Phillips 66 from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Credit Suisse Group lifted their price objective on Phillips 66 to $122.00 in a research note on Thursday, June 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.73.

About Phillips 66

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Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Further Reading

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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