LS Investment Advisors LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 19,227 shares of the company’s stock after buying an additional 754 shares during the period. LS Investment Advisors LLC’s holdings in Phillips 66 were worth $1,525,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. National Pension Service raised its stake in shares of Phillips 66 by 4.3% in the first quarter. National Pension Service now owns 303,287 shares of the company’s stock valued at $26,262,000 after buying an additional 12,508 shares during the period. Legal & General Group Plc raised its stake in shares of Phillips 66 by 3.1% in the first quarter. Legal & General Group Plc now owns 2,620,091 shares of the company’s stock valued at $226,871,000 after buying an additional 78,072 shares during the period. Raymond James Trust N.A. raised its stake in shares of Phillips 66 by 17.3% in the second quarter. Raymond James Trust N.A. now owns 45,126 shares of the company’s stock valued at $3,581,000 after buying an additional 6,648 shares during the period. Squarepoint Ops LLC raised its stake in shares of Phillips 66 by 58.4% in the first quarter. Squarepoint Ops LLC now owns 31,269 shares of the company’s stock valued at $2,708,000 after buying an additional 11,531 shares during the period. Finally, V Wealth Management LLC raised its stake in shares of Phillips 66 by 2.6% in the second quarter. V Wealth Management LLC now owns 3,093 shares of the company’s stock valued at $247,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 69.98% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.47% during midday trading on Friday, hitting $80.39. 1,614,694 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $79.20 and its 200-day moving average is $80.14. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12. The stock has a market cap of $42.03 billion, a PE ratio of 13.92 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.83 earnings per share. Analysts predict that Phillips 66 will post $3.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.13%. Phillips 66’s dividend payout ratio is presently 43.83%.
A number of research firms recently weighed in on PSX. JPMorgan Chase & Co. restated a “hold” rating on shares of Phillips 66 in a research report on Sunday, June 12th. Cowen and Company upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $76.15 to $92.00 in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. restated a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price target on the stock. in a research report on Wednesday, June 29th. Finally, Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $86.23.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was purchased at an average price of $77.83 per share, with a total value of $16,801,084.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.
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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