Signaturefd LLC lowered its position in Phillips 66 (NYSE:PSX) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,005 shares of the oil and gas company’s stock after selling 217 shares during the period. Signaturefd LLC’s holdings in Phillips 66 were worth $375,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Merchants Corp increased its position in shares of Phillips 66 by 13.5% in the 2nd quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock valued at $1,665,000 after buying an additional 2,117 shares in the last quarter. Opus Investment Management Inc. bought a new stake in shares of Phillips 66 in the 1st quarter valued at $446,000. Mitchell Capital Management Co. increased its position in shares of Phillips 66 by 23.4% in the 2nd quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock valued at $1,678,000 after buying an additional 3,405 shares in the last quarter. Boston Partners increased its position in shares of Phillips 66 by 6.8% in the 1st quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock valued at $72,929,000 after buying an additional 48,968 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position in shares of Phillips 66 by 44.1% in the 2nd quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock valued at $4,227,000 after buying an additional 13,840 shares in the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.
In other Phillips 66 news, Director John E. Lowe acquired 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. During the same period in the prior year, the business posted $2.80 EPS. Equities analysts expect that Phillips 66 will post 7.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.69%. Phillips 66’s dividend payout ratio is 30.74%.
A number of research firms recently commented on PSX. Morgan Stanley lowered their price objective on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Cowen increased their target price on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price for the company in a report on Monday, April 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $117.64.
Phillips 66 Company Profile
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 products to market; provides terminaling and storage services for crude oil and 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.
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