MU Investments Co. Ltd. lowered its position in Phillips 66 (NYSE:PSX) by 40.0% during the second quarter, Holdings Channel reports. The firm owned 2,100 shares of the company’s stock after selling 1,400 shares during the period. MU Investments Co. Ltd.’s holdings in Phillips 66 were worth $167,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. LVW Advisors LLC raised its stake in shares of Phillips 66 by 0.3% in the first quarter. LVW Advisors LLC now owns 3,049 shares of the company’s stock worth $264,000 after buying an additional 10 shares during the period. Ropes Wealth Advisors LLC raised its stake in shares of Phillips 66 by 0.6% in the first quarter. Ropes Wealth Advisors LLC now owns 2,372 shares of the company’s stock worth $205,000 after buying an additional 15 shares during the period. Alpha Windward LLC raised its stake in shares of Phillips 66 by 0.6% in the second quarter. Alpha Windward LLC now owns 3,069 shares of the company’s stock worth $243,000 after buying an additional 18 shares during the period. WealthTrust Axiom LLC raised its stake in shares of 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, Prospera Financial Services Inc raised its stake in shares of 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. 69.98% of the stock is currently owned by institutional investors.
Phillips 66 (NYSE:PSX) traded up 2.24% during trading on Wednesday, hitting $81.19. The company had a trading volume of 2,954,548 shares. Phillips 66 has a one year low of $71.74 and a one year high of $94.12. The stock has a market capitalization of $42.45 billion, a PE ratio of 14.05 and a beta of 1.38. The stock has a 50-day moving average of $78.66 and a 200-day moving average of $80.46.
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, 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 quarter last year, the company earned $1.83 EPS. On average, equities analysts anticipate that Phillips 66 will post $3.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 3.10%. Phillips 66’s dividend payout ratio is currently 43.83%.
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Phillips 66 in a research report on Sunday, June 12th. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Cowen and Company raised Phillips 66 from a “market perform” rating to an “outperform” rating and upped their price target for the company from $76.15 to $92.00 in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Finally, Scotiabank lowered Phillips 66 from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $90.00 to $89.00 in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.86.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc bought 215,869 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average price of $77.83 per share, for a total transaction of $16,801,084.27. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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.
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