Private Wealth Partners LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,003 shares of the company’s stock after selling 550 shares during the period. Private Wealth Partners LLC’s holdings in Phillips 66 were worth $476,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in Phillips 66 during the second quarter valued at approximately $31,281,000. PGGM Investments increased its stake in Phillips 66 by 98.1% in the second quarter. PGGM Investments now owns 732,347 shares of the company’s stock valued at $58,104,000 after buying an additional 362,634 shares during the period. Credit Agricole S A increased 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 period. State Street Corp increased its stake in 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 during the period. Finally, BlackRock Group LTD increased its stake in 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 during the period. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) traded down 0.73% during midday trading on Tuesday, reaching $79.82. 1,985,396 shares of the company traded hands. The firm has a market capitalization of $41.73 billion, a PE ratio of 13.82 and a beta of 1.37. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $94.12. The company’s 50-day moving average price is $78.93 and its 200 day moving average price is $80.20.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share (EPS) 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 period in the previous year, the company posted $1.83 EPS. On average, equities analysts anticipate that Phillips 66 will post $3.40 earnings per share for the current year.
PSX has been the topic of several recent research reports. Vetr raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.26 price objective on the stock in a report on Wednesday, July 6th. Howard Weil downgraded shares of Phillips 66 from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $90.00 to $89.00 in a report on Monday, July 11th. Morgan Stanley downgraded shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $105.00 to $90.00 in a report on Friday, June 17th. Wells Fargo & Co. downgraded shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a report on Friday, July 8th. Finally, Piper Jaffray Cos. increased their price target on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.23.
In related news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were bought at an average cost of $77.04 per share, for a total transaction of $22,350,536.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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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