Strs Ohio lowered its holdings in Phillips 66 (NYSE:PSX) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 234,849 shares of the oil and gas company’s stock after selling 6,479 shares during the quarter. Strs Ohio owned approximately 0.05% of Phillips 66 worth $21,967,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of PSX. LSV Asset Management raised its holdings in shares of Phillips 66 by 43.3% in the 1st quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock valued at $436,753,000 after purchasing an additional 1,387,767 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Phillips 66 by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after purchasing an additional 1,181,277 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Phillips 66 by 9,254.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 799,205 shares of the oil and gas company’s stock valued at $79,920,000 after purchasing an additional 790,661 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Phillips 66 by 8.0% in the 1st quarter. Wells Fargo & Company MN now owns 9,072,943 shares of the oil and gas company’s stock valued at $863,471,000 after purchasing an additional 674,509 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Phillips 66 by 16.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,419,048 shares of the oil and gas company’s stock valued at $420,561,000 after purchasing an additional 621,862 shares in the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.
Several research firms have recently commented on PSX. Morgan Stanley reduced their price target on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Cowen boosted their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Raymond James boosted their price objective on shares of Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $117.64.
NYSE:PSX traded down $1.25 during trading hours on Wednesday, hitting $96.16. 716,486 shares of the company were exchanged, compared to its average volume of 2,456,840. The stock has a market cap of $44.64 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The company’s 50 day moving average is $97.54.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $2.80 EPS. As a group, equities research analysts predict that Phillips 66 will post 7.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, August 19th. Phillips 66’s dividend payout ratio is presently 30.74%.
About Phillips 66
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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