Vident Investment Advisory LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 14.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,837 shares of the oil and gas company’s stock after selling 3,534 shares during the period. Vident Investment Advisory LLC’s holdings in Phillips 66 were worth $1,498,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Efficient Wealth Management LLC purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $28,000. Prestige Wealth Management Group LLC lifted its stake in Phillips 66 by 179.5% during the 1st quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Harwood Advisory Group LLC purchased a new position in Phillips 66 during the 1st quarter worth $36,000. Altshuler Shaham Ltd grew its stake in shares of Phillips 66 by 825.0% in the 1st quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 627 shares in the last quarter. Finally, First Bank & Trust purchased a new stake in shares of Phillips 66 in the first quarter valued at about $39,000. 66.79% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Gary Kramer Adams acquired 1,250 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the completion of the transaction, the director now owns 10,213 shares of the company’s stock, valued at $780,273.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Lowe acquired 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, June 24th. The shares were purchased at an average cost of $70.16 per share, with a total value of $70,160.00. The disclosure for this purchase can be found here. Insiders purchased a total of 3,750 shares of company stock valued at $268,305 over the last quarter. 0.63% of the stock is owned by company insiders.
Shares of Phillips 66 stock opened at $62.02 on Friday. The stock has a market capitalization of $27.08 billion, a P/E ratio of 91.21, a P/E/G ratio of 6.53 and a beta of 1.60. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. The stock’s 50-day simple moving average is $67.98 and its 200 day simple moving average is $73.22.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. The business had revenue of $11.18 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business earned $3.02 EPS. Equities research analysts forecast that Phillips 66 will post 1.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.90 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.60 dividend on an annualized basis and a yield of 5.80%. Phillips 66’s dividend payout ratio is 44.72%.
A number of equities research analysts have issued reports on PSX shares. Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research report on Wednesday, May 27th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Wolfe Research lowered Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target on the stock. in a report on Wednesday, May 13th. Wells Fargo & Co cut Phillips 66 from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Wednesday, July 22nd. Finally, Credit Suisse Group raised their target price on Phillips 66 from $72.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $83.47.
Phillips 66 Company 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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