Argyle Capital Management Inc. held its position in Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The institutional investor owned 13,411 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Phillips 66 were worth $1,064,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PSX. Cribstone Capital Management LLC bought a new position in Phillips 66 during the second quarter valued at $114,000. Trust Co. of Vermont increased its position in Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock valued at $153,000 after buying an additional 103 shares during the last quarter. Financial Architects Inc increased its position in Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock valued at $160,000 after buying an additional 1,622 shares during the last quarter. CWM LLC increased its position in Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock valued at $170,000 after buying an additional 739 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its position in Phillips 66 by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 2,400 shares of the company’s stock valued at $191,000 after buying an additional 190 shares during the last quarter. 69.98% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded down 0.08% on Tuesday, hitting $79.41. The company had a trading volume of 2,274,587 shares. The stock has a market cap of $41.52 billion, a P/E ratio of 13.75 and a beta of 1.38. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The firm’s 50 day moving average price is $78.61 and its 200 day moving average price is $80.46.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same quarter last year, the business earned $1.83 earnings per share. Equities analysts predict that Phillips 66 will post $3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Tuesday, August 16th. Phillips 66’s payout ratio is 43.83%.
Several equities analysts have weighed in on PSX shares. Vetr downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective for the company. in a research report on Monday, September 19th. Scotiabank downgraded Phillips 66 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $90.00 to $89.00 in a research report on Monday, July 11th. Piper Jaffray Cos. lifted their price objective on Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. TheStreet downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Phillips 66 has a consensus rating of “Hold” and a consensus target price of $85.52.
In other news, VP Paula Ann Johnson sold 40,141 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $79.57, for a total transaction of $3,194,019.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average cost of $77.21 per share, with a total value of $78,752,192.54. The disclosure for this purchase can be found here. Insiders own 0.05% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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