Pitcairn Co. lowered its position in Phillips 66 (NYSE:PSX) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,907 shares of the company’s stock after selling 157 shares during the period. Pitcairn Co.’s holdings in Phillips 66 were worth $628,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PSX. Cribstone Capital Management LLC acquired a new position in Phillips 66 during the second quarter worth approximately $114,000. Trust Co. of Vermont increased its position in Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock worth $153,000 after buying an additional 103 shares during the last quarter. Financial Architects Inc increased its position in Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock worth $160,000 after buying an additional 1,622 shares during the last quarter. CWM LLC increased its position in Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock worth $170,000 after buying an additional 739 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in Phillips 66 during the first quarter worth approximately $203,000. 69.98% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded down 0.05% on Thursday, reaching $80.03. 1,728,471 shares of the company traded hands. The firm has a 50 day moving average of $78.49 and a 200-day moving average of $80.68. 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 $41.84 billion, a PE ratio of 13.85 and a beta of 1.38.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ 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 previous year, the business earned $1.83 earnings per share. On average, analysts anticipate that Phillips 66 will post $3.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a $0.63 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.15%. Phillips 66’s dividend payout ratio (DPR) is currently 43.83%.
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Phillips 66 in a report on Sunday, June 12th. Morgan Stanley reiterated a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Scotiabank cut shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Vetr upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 target price for the company in a research report on Monday, September 12th. Finally, Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.52.
In other news, VP Paula Ann Johnson sold 40,141 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $79.57, for a total value of $3,194,019.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 17,910 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average cost of $77.52 per share, with a total value of $1,388,383.20. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by insiders.
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.
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.