Carnegie Capital Asset Management LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 15.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,900 shares of the oil and gas company’s stock after selling 17,718 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Phillips 66 were worth $8,783,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Group Wealth Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at $31,000. Manchester Financial Inc. acquired a new position in Phillips 66 in the 2nd quarter worth about $32,000. TCG Advisors LP acquired a new position in Phillips 66 in the 1st quarter worth about $38,000. Burt Wealth Advisors increased its holdings in Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares in the last quarter. Finally, Glassman Wealth Services grew its position in shares of Phillips 66 by 32.6% in the 1st quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 116 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.
Shares of Phillips 66 stock traded down $3.28 on Friday, hitting $95.18. The company had a trading volume of 2,253,205 shares, compared to its average volume of 2,208,428. The stock has a market capitalization of $44.16 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of 1.93 and a beta of 1.10. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $121.54. The stock has a 50 day moving average of $99.89 and a 200-day moving average of $94.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28.Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.70 by $0.32. The firm had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the prior year, the business posted $2.80 earnings per share. Equities analysts anticipate that Phillips 66 will post 7.83 earnings per share for the current year.
The firm also recently declared 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s payout ratio is 30.74%.
A number of equities research analysts have commented on PSX shares. Raymond James upped their price target on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Cowen upped their price target on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Monday, April 29th. They noted that the move was a valuation call. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley cut their target price on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $117.64.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, with a total value of $165,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.
About Phillips 66
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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