Massachusetts Financial Services Co. MA lowered its stake in Phillips 66 (NYSE:PSX) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,248 shares of the oil and gas company’s stock after selling 11,081 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Phillips 66 were worth $11,665,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. OppenheimerFunds Inc. boosted its stake in Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares during the last quarter. Swiss National Bank boosted its stake in Phillips 66 by 26.7% in the first quarter. Swiss National Bank now owns 1,661,114 shares of the oil and gas company’s stock valued at $131,593,000 after buying an additional 350,100 shares during the last quarter. Karp Capital Management Corp bought a new stake in Phillips 66 during the first quarter valued at $19,057,000. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock worth $661,561,000 after buying an additional 205,952 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Phillips 66 by 73.5% in the first quarter. Stifel Financial Corp now owns 471,487 shares of the oil and gas company’s stock worth $37,441,000 after buying an additional 199,703 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE PSX) traded up 0.83% during mid-day trading on Friday, hitting $81.56. 2,288,852 shares of the stock were exchanged. The stock has a market capitalization of $41.72 billion, a price-to-earnings ratio of 24.39 and a beta of 1.22. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The stock’s 50-day moving average is $83.33 and its 200-day moving average is $79.81.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. During the same period last year, the firm posted $0.94 EPS. 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. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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A number of brokerages have commented on PSX. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank reaffirmed a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a report on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $88.00 price target on shares of Phillips 66 in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently 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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