First Midwest Bank Trust Division lowered its stake in Phillips 66 (NYSE:PSX) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,924 shares of the oil and gas company’s stock after selling 6,635 shares during the period. First Midwest Bank Trust Division’s holdings in Phillips 66 were worth $1,234,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 11 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its position in Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 18 shares during the last quarter. CWM LLC increased its position in Phillips 66 by 0.6% in the second quarter. CWM LLC now owns 3,584 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 23 shares during the last quarter. Argent Trust Co increased its position in Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 27 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 29 shares during the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 (NYSE PSX) traded down 1.77% during midday trading on Thursday, hitting $81.56. 907,931 shares of the company traded hands. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The company has a market capitalization of $41.72 billion, a price-to-earnings ratio of 24.39 and a beta of 1.22. The stock’s 50-day moving average price is $83.37 and its 200 day moving average price is $79.81.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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 net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same quarter in the prior year, the business earned $0.94 EPS. On average, equities analysts forecast that Phillips 66 will post $4.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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Several research firms have commented on PSX. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Scotiabank reissued a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a research report on Tuesday, June 27th. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Barclays PLC reissued an “equal weight” rating and set a $89.00 target price (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Phillips 66 has a consensus rating of “Hold” and an average target price 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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