Financial Advisory Service Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 12.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,013 shares of the oil and gas company’s stock after selling 420 shares during the period. Financial Advisory Service Inc.’s holdings in Phillips 66 were worth $249,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Phillips 66 by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock worth $2,510,918,000 after acquiring an additional 780,469 shares during the last quarter. BlackRock Inc. grew its position in Phillips 66 by 2,329.3% during 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 acquiring an additional 26,676,647 shares during the last quarter. State Street Corp grew its position in Phillips 66 by 4.0% during 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 acquiring an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Phillips 66 by 4.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock worth $1,136,792,000 after acquiring an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Phillips 66 by 2.5% during the 1st quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock worth $661,561,000 after acquiring an additional 205,952 shares during the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.
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A number of equities research analysts recently weighed in on the company. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank restated a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 price target on shares of Phillips 66 in a research report on Tuesday, September 5th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $88.00 price target on shares of Phillips 66 in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $83.93.
Phillips 66 (NYSE:PSX) opened at 84.70 on Monday. The firm has a market capitalization of $43.32 billion, a P/E ratio of 25.33 and a beta of 1.20. The stock has a 50 day moving average price of $83.77 and a 200-day moving average price of $80.18. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period last year, the firm earned $0.94 earnings per share. Analysts anticipate that Phillips 66 will post $4.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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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