Signaturefd LLC boosted its stake in Phillips 66 (NYSE:PSX) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,268 shares of the company’s stock after buying an additional 175 shares during the period. Signaturefd LLC’s holdings in Phillips 66 were worth $180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Phillips 66 by 13.3% in the second quarter. Nordea Investment Management AB now owns 306,615 shares of the company’s stock valued at $24,327,000 after buying an additional 35,924 shares during the period. Penobscot Investment Management Company Inc. boosted its position in shares of Phillips 66 by 0.5% in the second quarter. Penobscot Investment Management Company Inc. now owns 33,751 shares of the company’s stock valued at $2,678,000 after buying an additional 174 shares during the period. SL Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $1,745,000. Concert Wealth Management Inc. boosted its position in shares of Phillips 66 by 4.5% in the second quarter. Concert Wealth Management Inc. now owns 13,582 shares of the company’s stock valued at $1,084,000 after buying an additional 580 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $712,000. 69.99% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE:PSX) traded up 0.43% during trading on Friday, hitting $79.49. The stock had a trading volume of 1,055,743 shares. The company has a market cap of $41.56 billion, a price-to-earnings ratio of 13.76 and a beta of 1.37. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12. The company has a 50-day moving average of $79.49 and a 200 day moving average of $79.96.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share 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 company posted $1.83 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post $3.41 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 annualized dividend and a yield of 3.18%. Phillips 66’s dividend payout ratio is presently 43.83%.
Several research analysts recently commented on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $84.00 target price (down from $86.00) on shares of Phillips 66 in a research report on Monday. Goldman Sachs Group Inc. raised Phillips 66 from a “sell” rating to a “neutral” rating and raised their target price for the stock from $74.00 to $85.00 in a research report on Thursday, September 29th. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $94.28 price objective for the company in a report on Tuesday, September 27th. Finally, Piper Jaffray Cos. lifted their price objective on Phillips 66 from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Phillips 66 currently has an average rating of “Hold” and a consensus price target of $86.12.
In other news, major shareholder Berkshire Hathaway Inc bought 83,466 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was purchased at an average cost of $78.29 per share, for a total transaction of $6,534,553.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is 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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