Whittier Trust Co. reduced its position in Phillips 66 (NYSE:PSX) by 22.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,921 shares of the oil and gas company’s stock after selling 1,394 shares during the quarter. Whittier Trust Co.’s holdings in Phillips 66 were worth $460,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Phillips 66 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock valued at $463,230,000 after purchasing an additional 396,796 shares during the last quarter. Legacy Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at about $219,000. UNIVEST FINANCIAL Corp increased its position in shares of Phillips 66 by 30.2% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 4,541 shares of the oil and gas company’s stock valued at $432,000 after purchasing an additional 1,054 shares during the last quarter. Somerset Trust Co increased its position in shares of Phillips 66 by 1.5% during the 1st quarter. Somerset Trust Co now owns 17,976 shares of the oil and gas company’s stock valued at $1,711,000 after purchasing an additional 269 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its position in shares of Phillips 66 by 9.6% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 8,569 shares of the oil and gas company’s stock valued at $816,000 after purchasing an additional 750 shares during the last quarter. 70.83% of the stock is owned by hedge funds and other institutional investors.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
PSX stock traded down $2.76 during midday trading on Monday, hitting $96.76. The company’s stock had a trading volume of 37,875 shares, compared to its average volume of 2,450,857. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $123.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.84. The company has a market capitalization of $44.64 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The business has a 50 day moving average price of $96.56.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The business had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. During the same period in the prior year, the company posted $2.80 EPS. On average, analysts expect that Phillips 66 will post 7.72 EPS 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 paid a $0.90 dividend. The ex-dividend date is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.72%. Phillips 66’s payout ratio is 30.74%.
Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Monday, April 29th. They noted that the move was a valuation call. Cowen boosted their price objective on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and boosted their price objective for the company from $105.00 to $107.00 in a research note on Monday, April 15th. Finally, Raymond James boosted their price objective on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Buy” and a consensus price target of $117.64.
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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