Asset Management One Co. Ltd. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 6.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,748 shares of the oil and gas company’s stock after purchasing an additional 13,799 shares during the period. Asset Management One Co. Ltd. owned 0.05% of Phillips 66 worth $22,518,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Evercore Wealth Management LLC increased its position in shares of Phillips 66 by 6.0% during the second quarter. Evercore Wealth Management LLC now owns 23,353 shares of the oil and gas company’s stock valued at $2,185,000 after acquiring an additional 1,313 shares in the last quarter. O Shares Investment Advisers LLC increased its position in shares of Phillips 66 by 6.2% during the second quarter. O Shares Investment Advisers LLC now owns 15,132 shares of the oil and gas company’s stock valued at $1,415,000 after acquiring an additional 884 shares in the last quarter. Aristotle Atlantic Partners LLC increased its position in shares of Phillips 66 by 15.3% during the second quarter. Aristotle Atlantic Partners LLC now owns 10,599 shares of the oil and gas company’s stock valued at $991,000 after acquiring an additional 1,409 shares in the last quarter. Lansdowne Partners UK LLP bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $20,258,000. Finally, Tranquility Partners LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $224,000. 68.71% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
Shares of PSX stock opened at $104.03 on Tuesday. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $119.14. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $99.56 and its 200 day moving average is $94.69. The stock has a market capitalization of $45.84 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.07 and a beta of 1.08.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. During the same quarter last year, the company posted $2.80 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, August 19th. Phillips 66’s dividend payout ratio is currently 30.74%.
Several brokerages recently weighed in on PSX. Scotiabank began coverage on shares of Phillips 66 in a research report on Tuesday, September 3rd. They set an “outperform” rating for the company. Macquarie began coverage on shares of Phillips 66 in a research report on Thursday, September 5th. They set an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Raymond James raised their price target on shares of Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $115.55.
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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