Bridge Creek Capital Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,676 shares of the company’s stock after selling 717 shares during the period. Bridge Creek Capital Management LLC’s holdings in Phillips 66 were worth $1,085,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Smith Moore & CO. boosted its stake in Phillips 66 by 6.2% in the first quarter. Smith Moore & CO. now owns 9,263 shares of the company’s stock valued at $833,000 after buying an additional 540 shares during the last quarter. Carnick & Kubik LLC boosted its stake in Phillips 66 by 1.9% in the first quarter. Carnick & Kubik LLC now owns 11,871 shares of the company’s stock valued at $1,028,000 after buying an additional 224 shares during the last quarter. Wexford Capital LP bought a new stake in Phillips 66 during the first quarter valued at $467,000. Credit Agricole S A boosted its stake in Phillips 66 by 39.2% in the first quarter. Credit Agricole S A now owns 1,286,433 shares of the company’s stock valued at $111,393,000 after buying an additional 362,468 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Phillips 66 by 151.8% in the first quarter. Canada Pension Plan Investment Board now owns 35,831 shares of the company’s stock valued at $3,103,000 after buying an additional 21,600 shares during the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.10% during trading on Wednesday, hitting $79.67. 1,737,638 shares of the stock were exchanged. The firm’s 50 day moving average price is $79.53 and its 200-day moving average price is $79.69. The stock has a market cap of $41.66 billion, a P/E ratio of 13.79 and a beta of 1.37. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ 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 quarter in the prior year, the firm posted $1.83 earnings per share. On average, analysts predict that Phillips 66 will post $3.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
Several research analysts recently issued reports on PSX shares. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price target for the company. in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Wells Fargo & Co. lowered shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a research report on Friday, July 8th. Finally, Howard Weil lowered shares of Phillips 66 from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.12.
In other news, major shareholder Berkshire Hathaway Inc purchased 215,869 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average price of $77.83 per share, with a total value of $16,801,084.27. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.05% of the company’s stock.
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.