North Star Asset Management Inc. continued to hold its stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,244 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Phillips 66 were worth $281,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Phillips 66 during the second quarter worth about $31,281,000. 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 worth $26,262,000 after buying an additional 12,508 shares during the last quarter. PGGM Investments raised its stake in shares of Phillips 66 by 98.1% in the second quarter. PGGM Investments now owns 732,347 shares of the company’s stock worth $58,104,000 after buying an additional 362,634 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Phillips 66 during the second quarter worth about $225,000. Finally, 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 worth $226,871,000 after buying an additional 78,072 shares during the last quarter. 69.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded down 0.71% on Wednesday, hitting $79.99. The stock had a trading volume of 971,077 shares. The stock has a market cap of $41.82 billion, a P/E ratio of 13.85 and a beta of 1.37. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12. The firm’s 50-day moving average is $79.39 and its 200 day moving average is $79.96.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the 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 quarter in the prior year, the firm posted $1.83 earnings per share. Equities analysts forecast that Phillips 66 will post $3.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
A number of equities analysts have recently commented on PSX shares. Vetr upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price objective on the stock in a report on Monday, September 12th. Piper Jaffray Cos. raised their price objective on Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. TheStreet upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Jefferies Group started coverage on Phillips 66 in a report on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective on the stock. Finally, Goldman Sachs Group Inc. upgraded Phillips 66 from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $74.00 to $85.00 in a report on Thursday, September 29th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $86.12.
In related news, major shareholder Berkshire Hathaway Inc purchased 215,869 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average price of $77.83 per share, for a total transaction of $16,801,084.27. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.
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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