South State CORP. Sells 1,688 Shares of Phillips 66 (NYSE:PSX)

South State CORP. decreased its position in Phillips 66 (NYSE:PSX) by 12.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,746 shares of the oil and gas company’s stock after selling 1,688 shares during the period. South State CORP.’s holdings in Phillips 66 were worth $958,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PSX. Samalin Investment Counsel LLC boosted its holdings in Phillips 66 by 5.2% in the first quarter. Samalin Investment Counsel LLC now owns 2,550 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 127 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its holdings in Phillips 66 by 3.0% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,338 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 128 shares in the last quarter. Strategy Asset Managers LLC boosted its holdings in Phillips 66 by 4.1% in the first quarter. Strategy Asset Managers LLC now owns 3,653 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 143 shares in the last quarter. Archer Investment Corp boosted its holdings in Phillips 66 by 45.6% in the fourth quarter. Archer Investment Corp now owns 479 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in Phillips 66 by 0.4% in the first quarter. Fiera Capital Corp now owns 39,023 shares of the oil and gas company’s stock valued at $3,182,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

NYSE:PSX traded up $0.01 during mid-day trading on Friday, reaching $91.65. The company’s stock had a trading volume of 1,599 shares, compared to its average volume of 2,769,222. Phillips 66 has a 12-month low of $43.27 and a 12-month high of $94.34. The firm’s fifty day simple moving average is $83.33. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $40.13 billion, a PE ratio of -18.82, a P/E/G ratio of 1.54 and a beta of 1.69.

Phillips 66 (NYSE:PSX) last issued its earnings results on Thursday, April 29th. The oil and gas company reported ($1.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.40) by $0.24. Phillips 66 had a negative return on equity of 6.12% and a negative net margin of 3.22%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $16.57 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 2.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 24th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Friday, May 21st. Phillips 66’s dividend payout ratio (DPR) is -404.49%.

Several research firms recently weighed in on PSX. Credit Suisse Group lifted their price target on shares of Phillips 66 from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $65.00 price objective on shares of Phillips 66 in a research report on Monday, March 1st. Royal Bank of Canada raised their price objective on Phillips 66 from $85.00 to $91.00 and gave the company an “outperform” rating in a research report on Monday, May 3rd. Mizuho raised their price objective on Phillips 66 from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 17th. Finally, Citigroup raised their price objective on Phillips 66 from $81.00 to $99.00 in a research report on Wednesday, March 17th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.44.

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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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