Logan Capital Management Inc. Has $4.94 Million Holdings in Phillips 66 (NYSE:PSX)

Logan Capital Management Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 106.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,856 shares of the oil and gas company’s stock after buying an additional 27,197 shares during the period. Logan Capital Management Inc.’s holdings in Phillips 66 were worth $4,943,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Opus Investment Management Inc. acquired a new stake in Phillips 66 in the first quarter valued at $446,000. Boston Partners grew its holdings in Phillips 66 by 6.8% during the 1st quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock worth $72,929,000 after acquiring an additional 48,968 shares during the period. Copeland Capital Management LLC grew its holdings in Phillips 66 by 44.1% during the 2nd quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock worth $4,227,000 after acquiring an additional 13,840 shares during the period. Rothschild Investment Corp IL grew its holdings in Phillips 66 by 3.6% during the 2nd quarter. Rothschild Investment Corp IL now owns 29,163 shares of the oil and gas company’s stock worth $2,728,000 after acquiring an additional 1,025 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its holdings in Phillips 66 by 6.0% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 25,361 shares of the oil and gas company’s stock worth $2,372,000 after acquiring an additional 1,441 shares during the period. Institutional investors own 70.14% of the company’s stock.

In related news, Director John E. Lowe acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

PSX has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the stock from $105.00 to $107.00 in a report on Monday, April 15th. Cowen increased their price target on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. Morgan Stanley decreased their price target on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Finally, Raymond James increased their price target on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $117.64.

PSX stock opened at $99.52 on Friday. The company has a market cap of $45.75 billion, a PE ratio of 8.50, a PEG ratio of 2.03 and a beta of 1.09. The stock’s 50-day moving average is $96.56. The company has a quick ratio of 0.84, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the prior year, the firm earned $2.80 EPS. As a group, research analysts forecast that Phillips 66 will post 7.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.62%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.

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; 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.

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

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