Marco Investment Management LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,114 shares of the oil and gas company’s stock after selling 296 shares during the period. Marco Investment Management LLC’s holdings in Phillips 66 were worth $1,831,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in PSX. Teachers Advisors LLC increased its position in shares of Phillips 66 by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 754,752 shares of the oil and gas company’s stock worth $65,218,000 after buying an additional 36,334 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Phillips 66 by 60.9% in the fourth quarter. Macquarie Group Ltd. now owns 22,600 shares of the oil and gas company’s stock worth $1,953,000 after buying an additional 8,550 shares in the last quarter. Beacon Financial Group increased its stake in Phillips 66 by 3.1% in the first quarter. Beacon Financial Group now owns 101,514 shares of the oil and gas company’s stock worth $7,978,000 after buying an additional 3,071 shares during the period. Franklin Street Advisors Inc. NC increased its stake in Phillips 66 by 10.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 3,981 shares of the oil and gas company’s stock worth $315,000 after buying an additional 385 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC increased its stake in Phillips 66 by 19.8% in the first quarter. Norman Fields Gottscho Capital Management LLC now owns 99,309 shares of the oil and gas company’s stock worth $7,867,000 after buying an additional 16,415 shares during the period. 69.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 (PSX) opened at 81.56 on Friday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The firm has a market capitalization of $41.72 billion, a P/E ratio of 24.39 and a beta of 1.22. The stock has a 50 day moving average of $83.33 and a 200-day moving average of $79.81.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same quarter last year, the company earned $0.94 earnings per share. On average, equities analysts expect that Phillips 66 will post $4.02 earnings per share for the current 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 paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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A number of research analysts recently issued reports on the stock. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. BidaskClub cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. Scotiabank reiterated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and an average 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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