Executive Wealth Management LLC lessened its stake in Phillips 66 (NYSE:PSX) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,211 shares of the oil and gas company’s stock after selling 342 shares during the quarter. Executive Wealth Management LLC’s holdings in Phillips 66 were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. grew its position in shares of Phillips 66 by 2.5% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock worth $400,000 after buying an additional 104 shares during the period. Montecito Bank & Trust increased its holdings in Phillips 66 by 4.1% during the second quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after buying an additional 105 shares during the last quarter. AGF Investments LLC increased its holdings in Phillips 66 by 30.5% during the second quarter. AGF Investments LLC now owns 458 shares of the oil and gas company’s stock worth $43,000 after buying an additional 107 shares during the last quarter. First National Bank of Hutchinson increased its holdings in Phillips 66 by 2.8% during the second quarter. First National Bank of Hutchinson now owns 4,128 shares of the oil and gas company’s stock worth $424,000 after buying an additional 112 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in Phillips 66 by 32.6% during the first quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock worth $45,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.
A number of brokerages recently weighed in on PSX. Cowen boosted their target price on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Raymond James boosted their target price on shares of Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. Finally, Morgan Stanley decreased their price objective on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Phillips 66 currently has an average rating of “Buy” and an average target price of $117.64.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the previous year, the business posted $2.80 earnings per share. On average, equities analysts forecast that Phillips 66 will post 7.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.73%. Phillips 66’s dividend payout ratio is 30.74%.
In other news, Director John E. Lowe acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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