Blair William & Co. IL lifted its stake in Phillips 66 (NYSE:PSX) by 16.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,064 shares of the oil and gas company’s stock after buying an additional 7,909 shares during the period. Blair William & Co. IL’s holdings in Phillips 66 were worth $4,636,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of PSX. BlackRock Inc. raised its holdings in shares of Phillips 66 by 2,329.3% in the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after buying an additional 26,676,647 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Phillips 66 by 599.8% in the 1st quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after buying an additional 3,943,299 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Phillips 66 by 4,771.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after buying an additional 1,396,918 shares in the last quarter. New England Asset Management Inc. acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $104,095,000. Finally, State Street Corp raised its holdings in shares of Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares in the last quarter. 69.53% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) opened at 89.09 on Wednesday. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $89.31. The firm has a 50-day moving average price of $84.43 and a 200-day moving average price of $80.63. The company has a market capitalization of $45.57 billion, a price-to-earnings ratio of 26.66 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the 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 period in the prior year, the business earned $0.94 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $4.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
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A number of equities analysts have recently issued reports on PSX shares. Piper Jaffray Companies reissued 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 Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Scotiabank reaffirmed a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $83.93.
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.
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