Cullen Frost Bankers Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 15.2% during the second quarter, Holdings Channel reports. The fund owned 21,120 shares of the company’s stock after selling 3,775 shares during the period. Cullen Frost Bankers Inc.’s holdings in Phillips 66 were worth $1,675,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in PSX. LVW Advisors LLC increased its stake in shares of Phillips 66 by 0.3% in the first quarter. LVW Advisors LLC now owns 3,049 shares of the company’s stock valued at $264,000 after buying an additional 10 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Phillips 66 by 0.6% in the first quarter. Ropes Wealth Advisors LLC now owns 2,372 shares of the company’s stock valued at $205,000 after buying an additional 15 shares in the last quarter. Alpha Windward LLC increased its stake in shares of Phillips 66 by 0.6% in the second quarter. Alpha Windward LLC now owns 3,069 shares of the company’s stock valued at $243,000 after buying an additional 18 shares in the last quarter. WealthTrust Axiom LLC increased its stake in shares of Phillips 66 by 0.7% in the second quarter. WealthTrust Axiom LLC now owns 3,654 shares of the company’s stock valued at $289,000 after buying an additional 25 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of Phillips 66 by 0.4% in the second quarter. Prospera Financial Services Inc now owns 7,783 shares of the company’s stock valued at $618,000 after buying an additional 28 shares in the last quarter. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded down 0.14% during mid-day trading on Monday, hitting $79.47. 2,351,038 shares of the stock were exchanged. The stock has a market cap of $41.55 billion, a PE ratio of 13.76 and a beta of 1.38. Phillips 66 has a one year low of $71.74 and a one year high of $94.12. The company has a 50-day moving average of $78.58 and a 200 day moving average of $80.51.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the business earned $1.83 EPS. On average, equities analysts predict that Phillips 66 will post $3.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Tuesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is 43.83%.
PSX has been the topic of several analyst reports. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.26 price target on the stock in a research report on Wednesday, July 6th. Howard Weil lowered shares of Phillips 66 from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $90.00 to $89.00 in a research note on Monday, July 11th. Morgan Stanley lowered shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $105.00 to $90.00 in a research note on Friday, June 17th. Wells Fargo & Co. lowered shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a research note on Friday, July 8th. Finally, Piper Jaffray Cos. increased their target price on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.52.
In related news, major shareholder Berkshire Hathaway Inc purchased 290,116 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average price of $77.04 per share, with a total value of $22,350,536.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Timothy Garth Taylor sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $78.00, for a total transaction of $3,900,000.00. The disclosure for this sale can be found here. Corporate 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.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.