Capstone Asset Management Co. cut its position in Phillips 66 (NYSE:PSX) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,160 shares of the oil and gas company’s stock after selling 54,959 shares during the period. Capstone Asset Management Co.’s holdings in Phillips 66 were worth $10,184,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of PSX. Guardian Life Insurance Co. of America raised its stake in shares of 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 worth $135,000 after buying an additional 11 shares during the period. Northwest Quadrant Wealth Management LLC raised its stake in shares of 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 worth $228,000 after buying an additional 18 shares during the period. Argent Trust Co raised its stake in shares of 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 worth $272,000 after buying an additional 27 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Phillips 66 by 1.5% in the first quarter. Rehmann Capital Advisory Group now owns 2,567 shares of the oil and gas company’s stock worth $203,000 after buying an additional 37 shares during the period. Finally, Advisor Partners LLC raised its stake in shares of Phillips 66 by 0.4% in the first quarter. Advisor Partners LLC now owns 10,845 shares of the oil and gas company’s stock worth $859,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
Phillips 66 (NYSE:PSX) traded up 2.386% during mid-day trading on Thursday, reaching $84.325. 1,216,254 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $83.25 and its 200 day moving average price is $79.83. The stock has a market capitalization of $43.13 billion, a PE ratio of 25.217 and a beta of 1.22. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period in the previous year, the company posted $0.94 EPS. Equities research analysts predict that Phillips 66 will post $4.05 EPS for the current year.
The company 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 annualized dividend and a yield of 3.40%. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
A number of analysts recently issued reports on the stock. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Scotiabank restated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Barclays PLC restated an “equal weight” rating and issued a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. 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 given a strong buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average price target of $83.53.
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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