Pointe Capital Management LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 28.7% during the second quarter, Holdings Channel reports. The institutional investor owned 5,868 shares of the company’s stock after selling 2,359 shares during the period. Pointe Capital Management LLC’s holdings in Phillips 66 were worth $466,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of PSX. State Street Corp raised its position in shares of Phillips 66 by 1.5% in the first quarter. State Street Corp now owns 23,555,046 shares of the company’s stock valued at $2,039,627,000 after buying an additional 358,052 shares in the last quarter. BlackRock Group LTD raised its position in shares of Phillips 66 by 5.1% in the first quarter. BlackRock Group LTD now owns 5,211,834 shares of the company’s stock valued at $451,292,000 after buying an additional 252,187 shares in the last quarter. Legal & General Group Plc raised its position in shares of Phillips 66 by 3.1% in the first quarter. Legal & General Group Plc now owns 2,620,091 shares of the company’s stock valued at $226,871,000 after buying an additional 78,072 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Phillips 66 by 2.4% in the first quarter. Prudential Financial Inc. now owns 2,327,531 shares of the company’s stock valued at $201,541,000 after buying an additional 55,450 shares in the last quarter. Finally, Credit Agricole S A raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.08% during mid-day trading on Tuesday, hitting $79.41. 2,274,587 shares of the company’s stock traded hands. The firm has a 50-day moving average of $78.61 and a 200 day moving average of $80.46. The company has a market cap of $41.52 billion, a PE ratio of 13.75 and a beta of 1.38. 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $1.83 EPS. Equities research analysts predict that Phillips 66 will post $3.38 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.17%. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
Several equities research analysts have recently weighed in on the company. Jefferies Group assumed coverage on Phillips 66 in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective on the stock. Morgan Stanley lowered Phillips 66 from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $105.00 to $90.00 in a research note on Friday, June 17th. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Phillips 66 in a research note on Wednesday, June 29th. Wells Fargo & Co. lowered Phillips 66 from an “outperform” rating to a “market perform” rating in a research note on Friday, July 8th. Finally, Vetr lowered Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.42 price objective on the stock. in a research note on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $85.52.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc purchased 17,910 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average price of $77.52 per share, for a total transaction of $1,388,383.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paula Ann Johnson sold 40,141 shares of Phillips 66 stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total transaction of $3,194,019.37. The disclosure for this sale can be found here. 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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