Macquarie Group Ltd. increased its stake in shares of Phillips 66 (NYSE:PSX) by 18.3% during the second quarter, Holdings Channel reports. The fund owned 14,850 shares of the company’s stock after buying an additional 2,300 shares during the period. Macquarie Group Ltd.’s holdings in Phillips 66 were worth $1,178,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PSX. Cribstone Capital Management LLC bought a new stake in shares of Phillips 66 during the second quarter valued at $114,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock valued at $138,000 after buying an additional 1,409 shares during the last quarter. Delphi Private Advisors LLC increased its stake in shares of Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock valued at $141,000 after buying an additional 18 shares during the last quarter. Farmers National Bank bought a new stake in shares of Phillips 66 during the second quarter valued at $141,000. Finally, Bruderman Asset Management LLC increased its stake in shares of Phillips 66 by 3.1% in the second quarter. Bruderman Asset Management LLC now owns 1,850 shares of the company’s stock valued at $147,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) opened at 79.58 on Monday. The stock has a 50 day moving average price of $78.55 and a 200-day moving average price of $80.63. The stock has a market capitalization of $41.61 billion, a PE ratio of 13.78 and a beta of 1.38. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the previous year, the business posted $1.83 earnings per share. On average, analysts forecast that Phillips 66 will post $3.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend 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%.
Several brokerages have weighed in on PSX. 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. boosted 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 reiterated a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Two 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.52.
In related news, President Timothy Garth Taylor sold 50,000 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Berkshire Hathaway Inc purchased 290,116 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $77.04 per share, with a total value of $22,350,536.64. The disclosure for this purchase can be found here. 0.05% of the stock is owned by 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.
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.