Huntington National Bank lowered its stake in Phillips 66 (NYSE:PSX) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,780 shares of the oil and gas company’s stock after selling 8,100 shares during the period. Huntington National Bank’s holdings in Phillips 66 were worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PSX. State Street Corp raised its position in Phillips 66 by 7.7% in the 1st quarter. State Street Corp now owns 24,392,064 shares of the oil and gas company’s stock valued at $1,308,634,000 after purchasing an additional 1,749,706 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Phillips 66 by 3.9% in the 1st quarter. BlackRock Inc. now owns 31,599,517 shares of the oil and gas company’s stock valued at $1,695,316,000 after acquiring an additional 1,188,569 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Phillips 66 by 60.6% in the 1st quarter. APG Asset Management N.V. now owns 2,612,596 shares of the oil and gas company’s stock valued at $221,437,000 after acquiring an additional 985,864 shares during the last quarter. Eaton Vance Management increased its holdings in shares of Phillips 66 by 35.6% in the 1st quarter. Eaton Vance Management now owns 3,035,849 shares of the oil and gas company’s stock valued at $164,360,000 after acquiring an additional 797,159 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Phillips 66 by 41.9% in the 1st quarter. First Trust Advisors LP now owns 2,098,020 shares of the oil and gas company’s stock valued at $112,559,000 after acquiring an additional 619,884 shares during the last quarter. 66.79% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on PSX shares. Piper Sandler dropped their price objective on Phillips 66 from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Scotiabank dropped their price objective on Phillips 66 from $90.00 to $79.00 and set a “sector outperform” rating on the stock in a report on Monday, July 13th. Wolfe Research downgraded Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price objective on the stock. in a report on Wednesday, May 13th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Monday, April 20th. Finally, Mizuho dropped their price target on Phillips 66 from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $83.47.
Shares of PSX stock opened at $62.02 on Friday. The business’s 50 day moving average is $67.98 and its two-hundred day moving average is $73.22. Phillips 66 has a twelve month low of $40.04 and a twelve month high of $119.92. The company has a market capitalization of $27.08 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.60. The company has a current ratio of 1.11, a quick ratio of 0.61 and a debt-to-equity ratio of 0.45.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.55). Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The company had revenue of $11.18 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the business posted $3.02 earnings per share. As a group, equities analysts predict that Phillips 66 will post 1.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Monday, August 17th. Phillips 66’s dividend payout ratio is currently 44.72%.
Phillips 66 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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