Boyd Watterson Asset Management LLC OH lessened its position in Phillips 66 (NYSE:PSX) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,004 shares of the oil and gas company’s stock after selling 565 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Phillips 66 were worth $749,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of PSX. LSV Asset Management increased its stake in shares of Phillips 66 by 43.3% during the 1st quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock worth $436,753,000 after purchasing an additional 1,387,767 shares during the last quarter. AQR Capital Management LLC grew its stake in Phillips 66 by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after buying an additional 1,181,277 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in Phillips 66 by 9,254.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 799,205 shares of the oil and gas company’s stock valued at $79,920,000 after buying an additional 790,661 shares during the last quarter. Wells Fargo & Company MN grew its stake in Phillips 66 by 8.0% in the 1st quarter. Wells Fargo & Company MN now owns 9,072,943 shares of the oil and gas company’s stock valued at $863,471,000 after buying an additional 674,509 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Phillips 66 by 16.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,419,048 shares of the oil and gas company’s stock valued at $420,561,000 after buying an additional 621,862 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
A number of research analysts recently issued reports on the stock. Bank of America upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Monday, April 29th. They noted that the move was a valuation call. Raymond James raised their price objective 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. Cowen raised their price objective 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. Finally, Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $117.64.In other news, Director John E. Lowe bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.
Phillips 66 stock traded up $1.13 during midday trading on Monday, hitting $96.31. 1,435,091 shares of the stock were exchanged, compared to its average volume of 2,655,592. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $121.54. The company has a fifty day simple moving average of $99.80 and a two-hundred day simple moving average of $94.24. The stock has a market capitalization of $42.76 billion, a PE ratio of 8.22, a P/E/G ratio of 1.93 and a beta of 1.10.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion for the quarter, compared to analyst estimates 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 firm posted $2.80 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a yield of 3.74%. Phillips 66’s payout ratio is 30.74%.
Phillips 66 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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