Alliancebernstein L.P. increased its stake in Phillips 66 (NYSE:PSX) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,341 shares of the oil and gas company’s stock after buying an additional 7,995 shares during the period. Alliancebernstein L.P. owned 0.15% of Phillips 66 worth $63,324,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Dodge & Cox acquired a new position in Phillips 66 during the fourth quarter valued at approximately $603,000. Teachers Advisors LLC raised its position in Phillips 66 by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 754,752 shares of the oil and gas company’s stock valued at $65,218,000 after buying an additional 36,334 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Phillips 66 during the fourth quarter valued at approximately $2,776,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Phillips 66 during the fourth quarter valued at approximately $1,239,000. Finally, Wsfs Capital Management LLC acquired a new position in Phillips 66 during the fourth quarter valued at approximately $248,000. 69.17% of the stock is owned by institutional investors.
Shares of Phillips 66 (PSX) traded down 1.02% during midday trading on Friday, hitting $83.65. 2,169,434 shares of the company’s stock traded hands. The company has a 50 day moving average of $81.63 and a 200 day moving average of $79.73. Phillips 66 has a 52 week low of $74.02 and a 52 week high of $88.87. The stock has a market cap of $43.17 billion, a P/E ratio of 25.95 and a beta of 1.23.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.53. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. The company had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, equities analysts forecast that Phillips 66 will post $4.00 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. Phillips 66’s payout ratio is 86.96%.
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Several analysts recently weighed in on PSX shares. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $83.00 price objective (down previously from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average target price of $84.12.
About Phillips 66
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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