Whittier Trust Co. raised its position in Phillips 66 (NYSE:PSX) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 5,815 shares of the company’s stock after buying an additional 78 shares during the period. Whittier Trust Co.’s holdings in Phillips 66 were worth $462,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Diligent Investors LLC boosted its position in shares of Phillips 66 by 5.5% in the second quarter. Diligent Investors LLC now owns 2,739 shares of the company’s stock worth $217,000 after buying an additional 144 shares during the last quarter. LMR Partners LLP boosted its position in shares of Phillips 66 by 72.6% in the second quarter. LMR Partners LLP now owns 29,350 shares of the company’s stock worth $2,329,000 after buying an additional 12,342 shares during the last quarter. SignalPoint Asset Management LLC boosted its position in shares of Phillips 66 by 3.3% in the second quarter. SignalPoint Asset Management LLC now owns 7,203 shares of the company’s stock worth $571,000 after buying an additional 231 shares during the last quarter. Savant Capital LLC boosted its position in shares of Phillips 66 by 6.8% in the second quarter. Savant Capital LLC now owns 6,508 shares of the company’s stock worth $516,000 after buying an additional 413 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Phillips 66 by 30.9% in the second quarter. Huntington National Bank now owns 186,710 shares of the company’s stock worth $14,814,000 after buying an additional 44,052 shares during the last quarter. 69.99% of the stock is owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded down 0.96% during mid-day trading on Wednesday, hitting $79.79. The stock had a trading volume of 1,118,231 shares. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12. The firm has a market cap of $41.72 billion, a PE ratio of 13.81 and a beta of 1.37. The stock’s 50-day moving average price is $79.39 and its 200-day moving average price is $79.96.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (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 quarter in the prior year, the firm posted $1.83 EPS. On average, analysts anticipate that Phillips 66 will post $3.41 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 3.13%. Phillips 66’s dividend payout ratio is presently 43.83%.
A number of brokerages have issued reports on PSX. Barclays PLC reaffirmed an “equal weight” rating and issued a $84.00 target price (down previously from $86.00) on shares of Phillips 66 in a report on Monday. Goldman Sachs Group Inc. upgraded Phillips 66 from a “sell” rating to a “neutral” rating and upped their price target for the company from $74.00 to $85.00 in a research report on Thursday, September 29th. Zacks Investment Research upgraded Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Vetr upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $94.28 price target on the stock in a research report on Tuesday, September 27th. Finally, Piper Jaffray Cos. upped their price target on Phillips 66 from $74.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, September 16th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $86.12.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc purchased 290,116 shares of Phillips 66 stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average price of $77.04 per share, for a total transaction of $22,350,536.64. The transaction was disclosed in a legal filing with the SEC, which is available through 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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