Phillips 66 (PSX) Holdings Boosted by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,132,297 shares of the oil and gas company’s stock after buying an additional 171,640 shares during the period. Parametric Portfolio Associates LLC’s holdings in Phillips 66 were worth $202,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Harvest Group Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth approximately $31,000. FNY Investment Advisers LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $37,000. Proficio Capital Partners LLC grew its holdings in shares of Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 137 shares during the period. Burt Wealth Advisors grew its holdings in shares of Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Finally, Truehand Inc acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $40,000. Institutional investors own 70.58% of the company’s stock.

In related news, Director John E. Lowe bought 2,000 shares of the stock in a transaction on Thursday, May 9th. The shares were purchased at an average price of $84.41 per share, for a total transaction of $168,820.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on PSX. Morgan Stanley lowered their price target on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a report on Friday, May 17th. ValuEngine cut Phillips 66 from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 7th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Monday, April 29th. They noted that the move was a valuation call. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Finally, Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and upped their price target for the stock from $105.00 to $107.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average price target of $119.42.

NYSE:PSX traded up $0.67 during trading hours on Friday, reaching $82.94. 2,661,630 shares of the company traded hands, compared to its average volume of 2,668,848. The stock has a market cap of $39.08 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of 1.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $24.66 billion. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, equities research analysts predict that Phillips 66 will post 7.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s dividend payout ratio is 30.74%.

WARNING: This piece was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.baseballdailydigest.com/news/2019/05/25/phillips-66-psx-holdings-boosted-by-parametric-portfolio-associates-llc.html.

Phillips 66 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; provides terminaling and storage services for crude oil and 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.

Featured Story: What is diluted earnings per share (Diluted EPS)?

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.