Quantitative Systematic Strategies LLC bought a new position in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 8,936 shares of the company’s stock, valued at approximately $712,000.
A number of other hedge funds have also recently made changes to their positions in the company. Cribstone Capital Management LLC bought a new position in shares of Phillips 66 during the second quarter worth $114,000. Trust Co. of Vermont raised its position in shares of 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 period. Financial Architects Inc raised its position in shares of 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 period. CWM LLC raised its position in shares of 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 period. Finally, Daiwa SB Investments Ltd. raised its position in shares of Phillips 66 by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 2,400 shares of the company’s stock worth $191,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Phillips 66 (NYSE:PSX) traded down 0.69% on Thursday, hitting $79.26. 1,307,243 shares of the stock traded hands. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The firm has a market cap of $41.44 billion, a price-to-earnings ratio of 13.72 and a beta of 1.37. The stock has a 50-day moving average of $79.45 and a 200-day moving average of $79.96.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share (EPS) 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 prior year, the company posted $1.83 earnings per share. Analysts forecast that Phillips 66 will post $3.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s dividend payout ratio is currently 43.83%.
A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated a “hold” rating on shares of Phillips 66 in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price target on the stock in a report on Monday, September 12th. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $90.00 to $89.00 in a report on Monday, July 11th. Finally, Barclays PLC restated an “equal weight” rating and set a $84.00 target price (down previously from $86.00) on shares of Phillips 66 in a report on Monday. Fourteen 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 target price of $86.12.
In other news, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was acquired at an average cost of $77.21 per share, with a total value of $78,752,192.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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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