Citizens Financial Group Inc. RI cut its stake in shares of Phillips 66 (NYSE:PSX) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,825 shares of the oil and gas company’s stock after selling 6 shares during the period. Citizens Financial Group Inc. RI’s holdings in Phillips 66 were worth $540,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Alpha Windward LLC increased its position in shares of Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 9 shares during the period. Argent Trust Co increased its position in shares of Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 27 shares during the period. Capital Investment Advisors LLC increased its position in shares of Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 29 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Phillips 66 by 1.5% in the first quarter. Rehmann Capital Advisory Group now owns 2,567 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 37 shares during the period. Finally, Advisor Partners LLC increased its position in shares of Phillips 66 by 0.4% in the first quarter. Advisor Partners LLC now owns 10,845 shares of the oil and gas company’s stock valued at $859,000 after buying an additional 38 shares during the period. Institutional investors own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.83% during trading on Friday, reaching $81.56. The company had a trading volume of 2,288,852 shares. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87. The stock has a market capitalization of $41.72 billion, a PE ratio of 24.39 and a beta of 1.22. The stock’s 50-day moving average price is $83.33 and its 200-day moving average price is $79.81.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The firm had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company posted $0.94 EPS. Equities analysts forecast that Phillips 66 will post $4.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
Several brokerages have weighed in on PSX. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the company a “hold” rating in a research note on Saturday, June 3rd. Scotiabank restated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Barclays PLC restated an “equal weight” rating and issued a $89.00 price target (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $83.53.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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