Osborne Partners Capital Management LLC Boosts Position in Phillips 66 (NYSE:PSX)

Osborne Partners Capital Management LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 80,818 shares of the oil and gas company’s stock after buying an additional 2,951 shares during the period. Osborne Partners Capital Management LLC’s holdings in Phillips 66 were worth $6,683,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after buying an additional 1,396,918 shares during the last quarter. New England Asset Management Inc. acquired a new stake in shares of Phillips 66 during the first quarter valued at about $104,095,000. Finally, State Street Corp raised its stake in shares of Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 (NYSE:PSX) traded down 0.24% on Friday, hitting $83.44. 1,858,217 shares of the stock traded hands. 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 $42.68 billion, a PE ratio of 24.95 and a beta of 1.22. The stock has a 50 day moving average of $83.10 and a 200 day moving average of $79.85.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same quarter in the prior year, the company posted $0.94 earnings per share. Equities research analysts anticipate that Phillips 66 will post $4.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. Phillips 66’s dividend payout ratio is currently 83.58%.

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Several equities research analysts have issued reports on PSX shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $87.00 price target on shares of Phillips 66 in a research note on Thursday, April 20th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $88.00 price target on shares of Phillips 66 in a research note on Thursday, May 25th. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research note on Monday, May 1st. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $83.53.

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

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