Seaward Management Limited Partnership increased its position in shares of Phillips 66 (NYSE:PSX) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 42,496 shares of the company’s stock after buying an additional 200 shares during the period. Seaward Management Limited Partnership’s holdings in Phillips 66 were worth $3,371,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PSX. LVW Advisors LLC boosted 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 valued at $264,000 after buying an additional 10 shares during the last quarter. Ropes Wealth Advisors LLC boosted 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 valued at $205,000 after buying an additional 15 shares during the last quarter. Alpha Windward LLC boosted 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 valued at $243,000 after buying an additional 18 shares during the last quarter. Bridge Creek Capital Management LLC boosted its stake in shares of Phillips 66 by 0.3% in the first quarter. Bridge Creek Capital Management LLC now owns 14,393 shares of the company’s stock valued at $1,246,000 after buying an additional 37 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Phillips 66 by 1.5% in the second quarter. NEXT Financial Group Inc now owns 2,768 shares of the company’s stock valued at $219,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Phillips 66 (NYSE:PSX) traded down 0.56% on Friday, hitting $79.58. The company had a trading volume of 2,065,066 shares. The company has a market capitalization of $41.61 billion, a P/E ratio of 13.78 and a beta of 1.38. The stock’s 50-day moving average price is $78.55 and its 200 day moving average price is $80.63. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period last year, the firm posted $1.83 EPS. On average, analysts expect that Phillips 66 will post $3.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given 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 3.17%. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
Several analysts have recently commented on PSX shares. Vetr upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.26 target price on the stock in a report on Wednesday, July 6th. Howard Weil cut Phillips 66 from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $90.00 to $89.00 in a report on Monday, July 11th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $105.00 to $90.00 in a report on Friday, June 17th. Wells Fargo & Co. cut Phillips 66 from an “outperform” rating to a “market perform” rating in a report on Friday, July 8th. Finally, Piper Jaffray Cos. increased their target price on Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.52.
In other news, President Timothy Garth Taylor sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $78.00, for a total value of $3,900,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc acquired 17,910 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $77.52 per share, for a total transaction of $1,388,383.20. The disclosure for this purchase can be found here. 0.05% of the stock is owned by company 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.
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