Pioneer Investment Management Inc. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,393 shares of the oil and gas company’s stock after selling 623 shares during the period. Pioneer Investment Management Inc. owned about 0.07% of Phillips 66 worth $30,628,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Waldron LP grew its holdings in Phillips 66 by 14.5% during the 1st quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 399 shares in the last quarter. Hudock Capital Group LLC grew its holdings in Phillips 66 by 13.1% during the 1st quarter. Hudock Capital Group LLC now owns 2,493 shares of the oil and gas company’s stock worth $197,000 after acquiring an additional 288 shares in the last quarter. iAB Financial Bank grew its holdings in Phillips 66 by 16.4% during the 1st quarter. iAB Financial Bank now owns 10,426 shares of the oil and gas company’s stock worth $826,000 after acquiring an additional 1,466 shares in the last quarter. Moloney Securities Asset Management LLC grew its holdings in Phillips 66 by 8.0% during the 1st quarter. Moloney Securities Asset Management LLC now owns 3,367 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 248 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Phillips 66 by 14.9% during the 1st quarter. Whittier Trust Co. now owns 6,821 shares of the oil and gas company’s stock worth $540,000 after acquiring an additional 885 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on PSX. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the stock 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, August 18th. Barclays PLC reiterated an “equal weight” rating and set a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a report on Friday. Finally, TheStreet cut shares of Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $83.93.
Phillips 66 (NYSE PSX) opened at 84.70 on Monday. The firm has a market cap of $43.32 billion, a PE ratio of 25.33 and a beta of 1.20. Phillips 66 has a one year low of $75.14 and a one year high of $88.87. The stock has a 50 day moving average of $83.77 and a 200 day moving average of $80.18.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping 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 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 forecast that Phillips 66 will post $4.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.
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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