Advisor Partners LLC Has $1.09 Million Position in Phillips 66 (NYSE:PSX)

Advisor Partners LLC grew its holdings in Phillips 66 (NYSE:PSX) by 21.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,161 shares of the oil and gas company’s stock after buying an additional 2,316 shares during the period. Advisor Partners LLC’s holdings in Phillips 66 were worth $1,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Waldron LP raised its position in shares of Phillips 66 by 14.5% in the first quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 399 shares during the last quarter. Breton Hill Capital Ltd. raised its position in shares of Phillips 66 by 212.6% in the first quarter. Breton Hill Capital Ltd. now owns 29,196 shares of the oil and gas company’s stock valued at $2,313,000 after buying an additional 55,115 shares during the last quarter. Argyle Capital Management Inc. raised its position in shares of Phillips 66 by 9.9% in the first quarter. Argyle Capital Management Inc. now owns 19,354 shares of the oil and gas company’s stock valued at $1,533,000 after buying an additional 1,750 shares during the last quarter. Hudock Capital Group LLC raised its position in shares of Phillips 66 by 13.1% in the first quarter. Hudock Capital Group LLC now owns 2,493 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 288 shares during the last quarter. Finally, iAB Financial Bank raised its position in shares of Phillips 66 by 16.4% in the first quarter. iAB Financial Bank now owns 10,426 shares of the oil and gas company’s stock valued at $826,000 after buying an additional 1,466 shares during the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.

Phillips 66 (NYSE PSX) opened at 87.67 on Friday. The firm’s 50-day moving average is $84.14 and its 200 day moving average is $80.45. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 26.23 and a beta of 1.20. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $25.14 billion. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities research analysts expect that Phillips 66 will post $4.20 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.19%. Phillips 66’s payout ratio is 83.58%.

A number of brokerages have recently commented on PSX. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research report on Friday, September 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 target price on shares of Phillips 66 in a research report on Tuesday, September 5th. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Barclays PLC reissued an “equal weight” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Phillips 66 currently has an average rating of “Hold” and an average target price of $83.93.

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Phillips 66 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.

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

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