KCM Investment Advisors LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 19.2% in the second quarter, Holdings Channel reports. The fund owned 2,109 shares of the oil and gas company’s stock after selling 500 shares during the period. KCM Investment Advisors LLC’s holdings in Phillips 66 were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $106,000. Kaizen Advisory LLC increased its position in shares of Phillips 66 by 144.3% during the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 593 shares during the last quarter. Omnia Family Wealth LLC increased its position in shares of Phillips 66 by 3,040.6% during the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 973 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $105,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $107,000. 69.48% of the stock is owned by institutional investors.
Phillips 66 stock opened at $118.96 on Wednesday. Phillips 66 has a one year low of $82.66 and a one year high of $123.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. The firm has a market capitalization of $55.02 billion, a PE ratio of 27.16, a P/E/G ratio of 1.79 and a beta of 0.99.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping 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 analyst estimates of $29.40 billion. During the same period last year, the company earned $1.09 earnings per share. analysts anticipate that Phillips 66 will post 7.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, August 20th. Phillips 66’s payout ratio is currently 73.06%.
PSX has been the subject of a number of research analyst reports. Argus increased their price target on Phillips 66 to $133.00 and gave the company a “buy” rating in a research report on Thursday, May 17th. Wells Fargo & Co raised Phillips 66 from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 29th. Credit Suisse Group increased their price objective on Phillips 66 from $115.00 to $127.00 and gave the company a “neutral” rating in a report on Monday, June 4th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $127.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, June 4th. Finally, Morgan Stanley increased their price objective on Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $114.02.
Phillips 66 Company 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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