Schwab Charles Investment Management Inc. raised its position in Phillips 66 (NYSE:PSX) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,921,616 shares of the oil and gas company’s stock after purchasing an additional 129,917 shares during the period. Schwab Charles Investment Management Inc. owned about 0.37% of Phillips 66 worth $158,899,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its holdings in Phillips 66 by 27.4% in the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares in the last quarter. Winch Advisory Services LLC lifted its holdings in Phillips 66 by 5,872.7% in the 1st quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 1,292 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,000 shares in the last quarter. FTB Advisors Inc. lifted its holdings in Phillips 66 by 17.3% in the 1st quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 213 shares in the last quarter. Finally, Farmers National Bank purchased a new position in Phillips 66 in the 1st quarter valued at about $113,000. Institutional investors own 69.57% of the company’s stock.
A number of research analysts have issued reports on PSX shares. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 target price on shares of Phillips 66 in a report on Thursday, May 25th. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. TheStreet lowered shares of Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. Finally, BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and an average target price of $83.93.
Phillips 66 (PSX) opened at 85.73 on Wednesday. The stock has a market capitalization of $43.85 billion, a price-to-earnings ratio of 25.64 and a beta of 1.20. The stock’s 50 day moving average is $83.84 and its 200 day moving average is $80.25. Phillips 66 has a one year low of $75.14 and a one year 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 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $25.14 billion. During the same period last year, the company posted $0.94 EPS. On average, equities analysts forecast that Phillips 66 will post $4.20 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given 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 yield of 3.27%. Phillips 66’s payout ratio is presently 83.58%.
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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