Palisade Asset Management LLC increased its position in Phillips 66 (NYSE:PSX) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,402 shares of the oil and gas company’s stock after purchasing an additional 650 shares during the quarter. Palisade Asset Management LLC’s holdings in Phillips 66 were worth $695,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Bank of The Ozarks grew its stake in Phillips 66 by 7.0% in the first quarter. Bank of The Ozarks now owns 8,836 shares of the oil and gas company’s stock worth $700,000 after purchasing an additional 575 shares in the last quarter. BB&T Corp grew its stake in Phillips 66 by 29.2% in the first quarter. BB&T Corp now owns 64,177 shares of the oil and gas company’s stock worth $5,083,000 after purchasing an additional 14,515 shares in the last quarter. LS Investment Advisors LLC grew its stake in Phillips 66 by 5.2% in the first quarter. LS Investment Advisors LLC now owns 19,609 shares of the oil and gas company’s stock worth $1,553,000 after purchasing an additional 970 shares in the last quarter. Bank of Montreal Can grew its stake in Phillips 66 by 39.4% in the second quarter. Bank of Montreal Can now owns 516,922 shares of the oil and gas company’s stock worth $42,745,000 after purchasing an additional 145,986 shares in the last quarter. Finally, Pennsylvania Trust Co grew its stake in Phillips 66 by 698.9% in the second quarter. Pennsylvania Trust Co now owns 48,694 shares of the oil and gas company’s stock worth $4,033,000 after purchasing an additional 42,599 shares in the last quarter. 69.57% of the stock is currently owned by institutional investors.
Shares of Phillips 66 (NYSE PSX) opened at 85.19 on Tuesday. The firm has a market cap of $43.58 billion, a PE ratio of 25.48 and a beta of 1.20. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The stock has a 50 day moving average price of $83.80 and a 200-day moving average price of $80.21.
Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The firm 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 quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $4.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. Phillips 66’s payout ratio is currently 83.58%.
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PSX has been the topic of several recent research reports. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Finally, Scotiabank reaffirmed a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.93.
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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