BB&T Securities LLC boosted its position in Phillips 66 (NYSE:PSX) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,907 shares of the oil and gas company’s stock after buying an additional 1,956 shares during the quarter. BB&T Securities LLC’s holdings in Phillips 66 were worth $13,353,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. raised its position in Phillips 66 by 14.7% in the 2nd quarter. Sei Investments Co. now owns 152,841 shares of the oil and gas company’s stock valued at $17,166,000 after buying an additional 19,537 shares during the last quarter. Brookstone Capital Management increased its position in shares of Phillips 66 by 39.3% during the 2nd quarter. Brookstone Capital Management now owns 4,376 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 1,234 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $3,338,000. CIBC World Markets Inc. increased its position in shares of Phillips 66 by 384.2% during the 1st quarter. CIBC World Markets Inc. now owns 50,027 shares of the oil and gas company’s stock worth $4,799,000 after purchasing an additional 39,695 shares during the last quarter. Finally, Meristem LLP acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $225,000. 69.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PSX opened at $114.30 on Friday. 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 12 month low of $83.96 and a 12 month high of $123.97. The company has a market cap of $54.78 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $29.74 billion during the quarter, compared to the consensus estimate of $29.40 billion. During the same period in the previous year, the company posted $1.09 EPS. research analysts expect that Phillips 66 will post 7.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were paid a dividend of $0.80 per share. The ex-dividend date was Monday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 2.80%. Phillips 66’s dividend payout ratio is currently 73.06%.
Several research analysts have weighed in on PSX shares. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. 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 boosted their price target on Phillips 66 from $115.00 to $127.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. Morgan Stanley boosted their price target on Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Finally, ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $114.23.
About Phillips 66
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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