MUFG Securities EMEA plc trimmed its holdings in Phillips 66 (NYSE:PSX) by 21.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 80,000 shares of the oil and gas company’s stock after selling 22,200 shares during the quarter. MUFG Securities EMEA plc’s holdings in Phillips 66 were worth $7,483,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in PSX. Wells Fargo & Company MN grew its holdings in shares of Phillips 66 by 19.7% during the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock valued at $1,016,170,000 after purchasing an additional 1,790,537 shares during the last quarter. LSV Asset Management grew its stake in shares of Phillips 66 by 43.3% during the first quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock valued at $436,753,000 after buying an additional 1,387,767 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Phillips 66 by 54.9% in the first quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock worth $315,479,000 after buying an additional 1,181,277 shares during the period. First Trust Advisors LP increased its holdings in shares of Phillips 66 by 126.5% in the second quarter. First Trust Advisors LP now owns 1,421,214 shares of the oil and gas company’s stock worth $132,940,000 after buying an additional 793,875 shares during the period. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of Phillips 66 by 9,254.0% in the second quarter. Thoroughbred Financial Services LLC now owns 799,205 shares of the oil and gas company’s stock worth $79,920,000 after buying an additional 790,661 shares during the period. Hedge funds and other institutional investors own 68.82% of the company’s stock.
NYSE PSX traded down $0.52 on Wednesday, hitting $102.44. The company’s stock had a trading volume of 126,793 shares, compared to its average volume of 2,134,029. The firm has a market cap of $45.83 billion, a P/E ratio of 8.75, a PEG ratio of 2.05 and a beta of 1.08. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $119.14. The company’s 50-day simple moving average is $99.46 and its 200 day simple moving average is $94.55. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The firm had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the previous year, the firm earned $2.80 earnings per share. On average, research analysts forecast that Phillips 66 will post 7.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, August 19th. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.
Several brokerages recently weighed in on PSX. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. Raymond James lifted their price target on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. ValuEngine downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Macquarie started coverage on Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating for the company. Finally, Scotiabank assumed coverage on shares of Phillips 66 in a report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $115.55.
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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