Markston International LLC lowered its position in Phillips 66 (NYSE:PSX) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 43,183 shares of the company’s stock after selling 1,181 shares during the period. Markston International LLC’s holdings in Phillips 66 were worth $3,426,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PSX. First Midwest Bank Trust Division raised its stake in Phillips 66 by 0.9% in the second quarter. First Midwest Bank Trust Division now owns 32,844 shares of the company’s stock worth $2,606,000 after buying an additional 301 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Phillips 66 by 29.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 53,181 shares of the company’s stock worth $4,220,000 after buying an additional 11,984 shares during the period. Prospera Financial Services Inc raised its stake in Phillips 66 by 0.4% in the second quarter. Prospera Financial Services Inc now owns 7,783 shares of the company’s stock worth $618,000 after buying an additional 28 shares during the period. WealthTrust Axiom LLC raised its stake in Phillips 66 by 0.7% in the second quarter. WealthTrust Axiom LLC now owns 3,654 shares of the company’s stock worth $289,000 after buying an additional 25 shares during the period. Finally, Conning Inc. raised its stake in Phillips 66 by 0.6% in the second quarter. Conning Inc. now owns 20,479 shares of the company’s stock worth $1,625,000 after buying an additional 130 shares during the period. 69.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded down 2.35% during mid-day trading on Thursday, hitting $79.28. 4,121,844 shares of the stock traded hands. The firm’s 50 day moving average price is $78.74 and its 200-day moving average price is $80.47. The stock has a market cap of $41.45 billion, a P/E ratio of 13.72 and a beta of 1.38. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 29th. The company reported $0.94 earnings per share 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 period in the prior year, the firm earned $1.83 earnings per share. Analysts predict that Phillips 66 will post $3.40 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 3.18%. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Phillips 66 in a report on Sunday, June 12th. Goldman Sachs Group Inc. upgraded shares of Phillips 66 from a “sell” rating to a “neutral” rating in a report on Thursday. Cowen and Company upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $76.15 to $92.00 in a report on Wednesday, August 3rd. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $90.00 to $89.00 in a report on Monday, July 11th. Finally, Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 target price on the stock. in a report on Wednesday, June 29th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Phillips 66 currently has an average rating of “Hold” and an average price target of $85.86.
In other news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $77.04 per share, for a total transaction of $22,350,536.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by insiders.
About Phillips 66
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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