Regentatlantic Capital LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,434 shares of the oil and gas company’s stock after selling 12,092 shares during the period. Regentatlantic Capital LLC’s holdings in Phillips 66 were worth $4,997,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in PSX. Bank of The Ozarks increased its stake in shares of Phillips 66 by 7.0% in the first quarter. Bank of The Ozarks now owns 8,836 shares of the oil and gas company’s stock worth $700,000 after buying an additional 575 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Phillips 66 by 14.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 141,328 shares of the oil and gas company’s stock worth $11,197,000 after buying an additional 17,409 shares during the period. BB&T Corp increased its stake in shares of Phillips 66 by 29.2% in the first quarter. BB&T Corp now owns 64,177 shares of the oil and gas company’s stock worth $5,083,000 after buying an additional 14,515 shares during the period. Shell Asset Management Co. increased its stake in shares of Phillips 66 by 3.0% in the first quarter. Shell Asset Management Co. now owns 45,458 shares of the oil and gas company’s stock worth $3,601,000 after buying an additional 1,316 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Phillips 66 by 5.2% in the first quarter. LS Investment Advisors LLC now owns 19,609 shares of the oil and gas company’s stock worth $1,553,000 after buying an additional 970 shares during the period. Institutional investors own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE PSX) traded down 1.77% during midday trading on Thursday, hitting $81.56. The stock had a trading volume of 907,931 shares. The company’s 50 day moving average price is $83.37 and its 200-day moving average price is $79.81. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The firm has a market capitalization of $41.72 billion, a PE ratio of 24.39 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period in the prior year, the firm earned $0.94 EPS. Equities analysts predict that Phillips 66 will post $4.04 earnings per share for the current year.
The business also recently declared 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 3.37%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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PSX has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $87.00 target price on shares of Phillips 66 in a report on Thursday, April 20th. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 target price on shares of Phillips 66 in a report on Thursday, May 25th. Scotiabank set a $86.00 target price on Phillips 66 and gave the company a “hold” rating in a report on Monday, May 1st. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Phillips 66 has a consensus rating of “Hold” and a consensus 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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