Putnam Investments LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,375 shares of the oil and gas company’s stock after selling 2,096 shares during the quarter. Putnam Investments LLC’s holdings in Phillips 66 were worth $4,535,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of PSX. Acropolis Investment Management LLC purchased a new position in Phillips 66 during the second quarter worth about $106,000. Tuttle Tactical Management purchased a new position in Phillips 66 during the second quarter worth about $107,000. Baker Ellis Asset Management LLC purchased a new position in Phillips 66 during the second quarter worth about $111,000. Kaizen Advisory LLC grew its position in Phillips 66 by 144.3% during the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after buying an additional 593 shares in the last quarter. Finally, Omnia Family Wealth LLC grew its position in Phillips 66 by 3,040.6% during the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock worth $113,000 after buying an additional 973 shares in the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.
Several research firms recently commented on PSX. Citigroup boosted their target price on Phillips 66 from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, September 7th. Mizuho initiated coverage on Phillips 66 in a report on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price objective for the company. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Finally, Morgan Stanley boosted their target price on Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Phillips 66 currently has an average rating of “Hold” and an average price target of $115.84.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.64. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. The firm had revenue of $29.74 billion during the quarter, compared to analyst estimates of $29.40 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Equities research analysts forecast that Phillips 66 will post 7.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.71%. Phillips 66’s dividend payout ratio is currently 73.06%.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Further Reading: Book Value Per Share – BVPS
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