Glenview Trust Co lowered its stake in shares of Phillips 66 (NYSE:PSX) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,083 shares of the oil and gas company’s stock after selling 1,200 shares during the period. Glenview Trust Co’s holdings in Phillips 66 were worth $323,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Phillips 66 during the fourth quarter valued at approximately $465,132,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Phillips 66 during the fourth quarter valued at approximately $89,476,000. Swiss National Bank raised its position in Phillips 66 by 26.7% in the first quarter. Swiss National Bank now owns 1,661,114 shares of the oil and gas company’s stock valued at $131,593,000 after buying an additional 350,100 shares during the period. Karp Capital Management Corp bought a new position in Phillips 66 during the first quarter valued at approximately $19,057,000. Finally, Wells Fargo & Company MN raised its position in Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock valued at $661,561,000 after buying an additional 205,952 shares during the period. 69.98% of the stock is owned by institutional investors.
Shares of Phillips 66 (PSX) opened at 82.24 on Thursday. The firm’s 50-day moving average is $78.80 and its 200 day moving average is $80.27. The firm has a market capitalization of $42.44 billion, a P/E ratio of 25.52 and a beta of 1.23. Phillips 66 has a 52 week low of $73.82 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The firm had revenue of $23.71 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same period last year, the firm earned $0.67 earnings per share. Equities research analysts forecast that Phillips 66 will post $4.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. Phillips 66’s dividend payout ratio is 86.96%.
PSX has been the subject of several recent research reports. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Scotiabank reaffirmed a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a report on Monday, March 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 target price on shares of Phillips 66 in a report on Thursday, May 25th. Finally, Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $84.48.
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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