ARS Investment Partners LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,714 shares of the oil and gas company’s stock after selling 993 shares during the period. Phillips 66 comprises 2.0% of ARS Investment Partners LLC’s investment portfolio, making the stock its 18th largest position. ARS Investment Partners LLC’s holdings in Phillips 66 were worth $14,079,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN raised 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 valued at $661,561,000 after buying an additional 205,952 shares during the period. Norges Bank acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $465,132,000. Aristotle Capital Management LLC raised its position in shares of Phillips 66 by 1.8% in the fourth quarter. Aristotle Capital Management LLC now owns 3,137,347 shares of the oil and gas company’s stock valued at $271,098,000 after buying an additional 53,997 shares during the period. Swiss National Bank raised its position in shares of 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 period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Phillips 66 by 5.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,470,112 shares of the oil and gas company’s stock valued at $116,462,000 after buying an additional 73,882 shares during the period. Institutional investors and hedge funds own 69.98% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 81.72 on Friday. The company has a market cap of $42.18 billion, a P/E ratio of 25.36 and a beta of 1.23. The company has a 50-day moving average of $78.80 and a 200-day moving average of $80.27. Phillips 66 has a 52 week low of $73.82 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period last year, the business earned $0.67 EPS. On average, equities research analysts predict that Phillips 66 will post $4.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66’s payout ratio is 86.96%.
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PSX has been the subject of several recent analyst reports. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Citigroup Inc. restated a “neutral” rating and set a $83.00 target price (down previously from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $84.48.
Phillips 66 Company Profile
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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