Chicago Partners Investment Group LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 26.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,593 shares of the oil and gas company’s stock after selling 910 shares during the period. Chicago Partners Investment Group LLC’s holdings in Phillips 66 were worth $205,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC raised its stake in shares of 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 valued at $104,000 after buying an additional 1,292 shares during the period. FTB Advisors Inc. raised its stake in shares of 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 valued at $113,000 after buying an additional 213 shares during the period. Barrett Asset Management LLC raised its stake in shares of 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 valued at $140,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC raised its stake in shares of 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 valued at $153,000 after buying an additional 61 shares during the period. Finally, Tompkins Financial Corp raised its stake in shares of 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 valued at $181,000 after buying an additional 1,315 shares during the period. Institutional investors own 69.09% of the company’s stock.
Phillips 66 (NYSE PSX) opened at 82.85 on Friday. The stock has a market capitalization of $42.76 billion, a P/E ratio of 25.71 and a beta of 1.23. The stock has a 50 day moving average of $80.48 and a 200 day moving average of $79.79. Phillips 66 has a 1-year low of $73.82 and a 1-year high of $88.87.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. The firm had revenue of $23.71 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period in the prior year, the company earned $0.67 EPS. On average, analysts expect that Phillips 66 will post $3.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid 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 3.38%. Phillips 66’s payout ratio is 86.96%.
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Several brokerages have recently issued reports on PSX. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $83.00 target price (down previously from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.12.
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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