Fisher Asset Management LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,607 shares of the oil and gas company’s stock after purchasing an additional 208 shares during the period. Fisher Asset Management LLC’s holdings in Phillips 66 were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PSX. Harvest Group Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $31,000. Manchester Financial Inc. bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $32,000. TCG Advisors LP bought a new position in shares of Phillips 66 in the 1st quarter valued at about $38,000. Burt Wealth Advisors grew its position in shares of Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 300 shares during the period. 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 acquiring an additional 116 shares during the period. 71.31% of the stock is owned by institutional investors and hedge funds.
In related news, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $82.91 per share, for a total transaction of $165,820.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.
NYSE PSX opened at $97.47 on Friday. The firm has a 50-day moving average of $99.21 and a 200-day moving average of $94.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The stock has a market cap of $44.10 billion, a PE ratio of 8.32, a P/E/G ratio of 1.94 and a beta of 1.10. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $121.54.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $2.80 EPS. As a group, analysts predict that Phillips 66 will post 7.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, August 19th. Phillips 66’s dividend payout ratio is presently 30.74%.
A number of brokerages have recently commented on PSX. Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Raymond James lifted their price objective 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. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. ValuEngine downgraded shares of 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 shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $117.64.
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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