Wheatland Advisors Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,401 shares of the oil and gas company’s stock after selling 150 shares during the period. Phillips 66 comprises 1.4% of Wheatland Advisors Inc.’s investment portfolio, making the stock its 26th biggest holding. Wheatland Advisors Inc.’s holdings in Phillips 66 were worth $1,815,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PSX. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock worth $463,230,000 after acquiring an additional 396,796 shares in the last quarter. CWM LLC raised its holdings in shares of Phillips 66 by 663.4% during the 1st quarter. CWM LLC now owns 11,435 shares of the oil and gas company’s stock worth $1,088,000 after acquiring an additional 9,937 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $9,658,000. Ellis Investment Partners LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $109,000. Finally, Creative Planning raised its holdings in shares of Phillips 66 by 1.4% during the 1st quarter. Creative Planning now owns 104,356 shares of the oil and gas company’s stock worth $9,932,000 after acquiring an additional 1,479 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the company. Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Monday, April 29th. They noted that the move was a valuation call. Raymond James upped their price objective on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Cowen upped their price objective on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $117.64.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The company had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same quarter in the prior year, the firm posted $2.80 EPS. On average, research analysts expect that Phillips 66 will post 7.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.78%. Phillips 66’s payout ratio is presently 30.74%.
In related news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $82.91 per share, for a total transaction of $165,820.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
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.
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