First Allied Advisory Services Inc. grew its position in Phillips 66 (NYSE:PSX) by 18.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,325 shares of the oil and gas company’s stock after buying an additional 1,455 shares during the period. First Allied Advisory Services Inc.’s holdings in Phillips 66 were worth $872,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Phillips 66 by 19.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock worth $1,016,170,000 after acquiring an additional 1,790,537 shares during the last quarter. Northern Trust Corp lifted its holdings in Phillips 66 by 0.9% during the 1st quarter. Northern Trust Corp now owns 5,695,981 shares of the oil and gas company’s stock worth $542,087,000 after buying an additional 48,937 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock worth $463,230,000 after buying an additional 396,796 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Phillips 66 by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,882,918 shares of the oil and gas company’s stock worth $448,008,000 after buying an additional 463,870 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Phillips 66 by 2.4% during the 2nd quarter. LSV Asset Management now owns 4,701,505 shares of the oil and gas company’s stock worth $439,778,000 after buying an additional 112,310 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on PSX. Morgan Stanley reduced their target price 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. Raymond James increased 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. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Scotiabank began coverage on shares of Phillips 66 in a report on Tuesday, September 3rd. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $117.64.
Shares of PSX opened at $100.91 on Monday. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $119.14. The firm’s fifty day simple moving average is $99.49 and its 200-day simple moving average is $94.45. The firm has a market capitalization of $44.76 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same period last year, the business earned $2.80 EPS. On average, analysts predict that Phillips 66 will post 7.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.90 dividend. The ex-dividend date was Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.57%. Phillips 66’s payout ratio is 30.74%.
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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