Employees Retirement System of Texas lifted its stake in shares of Phillips 66 (NYSE:PSX) by 14.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,426 shares of the oil and gas company’s stock after acquiring an additional 13,426 shares during the quarter. Employees Retirement System of Texas’ holdings in Phillips 66 were worth $12,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Gamco Investors INC. ET AL raised its position in shares of Phillips 66 by 4.7% during the second quarter. Gamco Investors INC. ET AL now owns 61,852 shares of the oil and gas company’s stock worth $6,947,000 after acquiring an additional 2,790 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Phillips 66 during the second quarter worth about $492,000. Hartford Financial Management Inc. raised its position in shares of Phillips 66 by 41.3% during the second quarter. Hartford Financial Management Inc. now owns 20,974 shares of the oil and gas company’s stock worth $2,356,000 after acquiring an additional 6,131 shares during the last quarter. Neuburgh Advisers LLC raised its position in shares of Phillips 66 by 156.8% during the second quarter. Neuburgh Advisers LLC now owns 68,884 shares of the oil and gas company’s stock worth $7,736,000 after acquiring an additional 42,058 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in shares of Phillips 66 by 78.7% during the second quarter. Investec Asset Management LTD now owns 167,192 shares of the oil and gas company’s stock worth $18,777,000 after acquiring an additional 73,654 shares during the last quarter. Institutional investors own 69.57% of the company’s stock.
Shares of PSX stock opened at $120.44 on Thursday. The company has a market capitalization of $55.73 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Phillips 66 has a fifty-two week low of $82.66 and a fifty-two week high of $123.97.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.64. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. The firm had revenue of $29.74 billion during the quarter, compared to analysts’ expectations of $29.40 billion. During the same quarter last year, the firm posted $1.09 earnings per share. research analysts anticipate that Phillips 66 will post 7.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Tuesday, August 21st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $3.20 dividend on an annualized basis and a yield of 2.66%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
PSX has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Wells Fargo & Co upgraded Phillips 66 from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 29th. Credit Suisse Group lifted their target price on Phillips 66 from $115.00 to $127.00 and gave the stock a “neutral” rating in a report on Monday, June 4th. Morgan Stanley lifted their target price on Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Finally, ValuEngine downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $113.70.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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