Cullinan Associates Inc. increased its stake in shares of Phillips 66 (NYSE:PSX) by 96.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 56,515 shares of the oil and gas company’s stock after acquiring an additional 27,762 shares during the period. Cullinan Associates Inc.’s holdings in Phillips 66 were worth $5,286,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. increased its holdings in Phillips 66 by 2.5% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock worth $400,000 after purchasing an additional 104 shares during the last quarter. Montecito Bank & Trust increased its holdings in Phillips 66 by 4.1% during the 2nd quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 105 shares during the last quarter. Deane Retirement Strategies Inc. increased its holdings in Phillips 66 by 0.6% during the 1st quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 112 shares during the last quarter. Glassman Wealth Services increased its holdings in Phillips 66 by 32.6% during the 1st quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 116 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Phillips 66 by 5.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,573 shares of the oil and gas company’s stock worth $244,000 after purchasing an additional 123 shares during the last quarter. 69.97% of the stock is currently owned by hedge funds and other institutional investors.
PSX traded down $1.63 during trading on Thursday, reaching $100.79. 215,829 shares of the company were exchanged, compared to its average volume of 2,551,618. The firm has a market capitalization of $46.41 billion, a PE ratio of 8.60, a P/E/G ratio of 2.10 and a beta of 1.08. The business’s 50 day moving average price is $93.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The company had revenue of $23.66 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. On average, analysts forecast that Phillips 66 will post 7.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a yield of 3.57%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of Phillips 66 stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $84.41 per share, for a total transaction of $168,820.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
PSX has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Pinduoduo in a report on Monday, April 15th. They set a “buy” rating and a $30.00 price objective on the stock. Bank of America restated a “buy” rating and set a $420.00 price objective (up from $400.00) on shares of Lendingtree in a report on Monday, April 29th. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Raymond James downgraded First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and an average target price of $117.82.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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