United Services Automobile Association increased its position in shares of Phillips 66 (NYSE:PSX) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 451,001 shares of the oil and gas company’s stock after buying an additional 34,059 shares during the period. United Services Automobile Association owned about 0.09% of Phillips 66 worth $35,728,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winch Advisory Services LLC raised its position in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares in the last quarter. FTB Advisors Inc. raised its position in Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares in the last quarter. Barrett Asset Management LLC raised its position in Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares in the last quarter. Quadrant Capital Group LLC raised its position in Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock worth $153,000 after buying an additional 61 shares in the last quarter. Finally, Tompkins Financial Corp raised its position in Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,315 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE PSX) traded down 2.58% during mid-day trading on Thursday, hitting $80.89. The stock had a trading volume of 2,327,805 shares. The firm’s 50-day moving average price is $83.37 and its 200 day moving average price is $79.81. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 24.19 and a beta of 1.22. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company earned $0.94 EPS. Equities analysts forecast that Phillips 66 will post $4.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.46%. Phillips 66’s payout ratio is 83.58%.
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A number of research analysts recently issued reports on the company. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Barclays PLC restated an “equal weight” rating and set a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Citigroup Inc. restated a “neutral” rating and set a $83.00 price objective (down previously from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $87.00 price objective on shares of Phillips 66 in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $83.53.
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 through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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