Tredje AP fonden Purchases 1,260 Shares of Phillips 66 (NYSE:PSX)

Tredje AP fonden boosted its stake in shares of Phillips 66 (NYSE:PSX) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,879 shares of the oil and gas company’s stock after buying an additional 1,260 shares during the period. Tredje AP fonden’s holdings in Phillips 66 were worth $3,714,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC increased its stake in shares of Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 213 shares in the last quarter. Barrett Asset Management LLC increased its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 61 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 1,315 shares in the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Shares of Phillips 66 (NYSE:PSX) opened at 81.81 on Tuesday. The firm’s 50 day moving average is $78.80 and its 200-day moving average is $80.27. The company has a market capitalization of $42.22 billion, a P/E ratio of 25.38 and a beta of 1.22. Phillips 66 has a 52-week low of $73.82 and a 52-week high of $88.87.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the prior year, the company earned $0.67 EPS. Equities research analysts anticipate that Phillips 66 will post $4.02 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. 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 3.42%. Phillips 66’s payout ratio is presently 86.96%.

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Several analysts recently weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research report on Friday. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Scotiabank reiterated a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average price target of $84.12.

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.

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

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