Phillips 66 (NYSE:PSX) announced a quarterly dividend on Friday, October 7th. Investors of record on Thursday, November 17th will be paid a dividend of 0.63 per share on Thursday, December 1st. This represents a $2.52 annualized dividend and a yield of 3.13%.
Shares of Phillips 66 (NYSE:PSX) opened at 80.39 on Monday. The company has a 50-day moving average of $79.20 and a 200 day moving average of $80.14. The stock has a market capitalization of $42.03 billion, a price-to-earnings ratio of 13.92 and a beta of 1.37. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ 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 last year, the business earned $1.83 EPS. Equities research analysts forecast that Phillips 66 will post $3.41 earnings per share for the current fiscal year.
Several analysts have weighed in on PSX shares. Vetr lowered 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 Tuesday, July 5th. TheStreet raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Morgan Stanley lowered Phillips 66 from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $105.00 to $90.00 in a report on Friday, June 17th. Finally, Barclays PLC lowered Phillips 66 from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $93.00 to $86.00 in a report on Wednesday, July 13th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $86.23.
In related news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $77.04 per share, for a total transaction of $22,350,536.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. SL Advisors LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $1,745,000. Ameritas Investment Partners Inc. increased its stake in shares of Phillips 66 by 2.8% in the second quarter. Ameritas Investment Partners Inc. now owns 9,851 shares of the company’s stock valued at $781,000 after buying an additional 264 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Phillips 66 by 5.6% in the second quarter. Bank of Nova Scotia now owns 9,384 shares of the company’s stock valued at $745,000 after buying an additional 500 shares during the last quarter. Advantus Capital Management Inc increased its stake in shares of Phillips 66 by 0.3% in the second quarter. Advantus Capital Management Inc now owns 45,442 shares of the company’s stock valued at $3,605,000 after buying an additional 157 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in shares of Phillips 66 by 5.4% in the second quarter. Freestone Capital Holdings LLC now owns 6,628 shares of the company’s stock valued at $526,000 after buying an additional 339 shares during the last quarter. Institutional investors and hedge funds own 69.98% 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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