World Asset Management Inc lowered its position in Phillips 66 (NYSE:PSX) by 13.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,132 shares of the oil and gas company’s stock after selling 6,729 shares during the period. World Asset Management Inc’s holdings in Phillips 66 were worth $3,732,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Phillips 66 by 27.4% during the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Phillips 66 by 5,872.7% during the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 1,292 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Phillips 66 by 239.2% during the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,000 shares during the last quarter. FTB Advisors Inc. grew its holdings in Phillips 66 by 17.3% during the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 213 shares during the last quarter. Finally, Farmers National Bank acquired a new stake in shares of Phillips 66 in the first quarter worth $113,000. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Several brokerages have recently issued reports on PSX. Scotiabank restated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Jefferies Group LLC restated a “hold” rating and issued a $78.00 price objective on shares of Phillips 66 in a research note on Tuesday, September 5th. BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Barclays PLC reaffirmed an “equal weight” rating and issued a $89.00 target price (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $84.00 price objective on shares of Phillips 66 in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.93.
Phillips 66 (NYSE:PSX) opened at 85.89 on Wednesday. The stock’s 50 day moving average price is $83.84 and its 200 day moving average price is $80.25. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 25.70 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $4.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.27%. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
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Phillips 66 Company Profile
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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