Fifth Third Bancorp decreased its stake in shares of Phillips 66 (NYSE:PSX) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,233 shares of the oil and gas company’s stock after selling 1,625 shares during the period. Fifth Third Bancorp’s holdings in Phillips 66 were worth $6,911,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Phillips 66 by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 754,752 shares of the oil and gas company’s stock valued at $65,218,000 after buying an additional 36,334 shares during the period. Macquarie Group Ltd. boosted its stake in Phillips 66 by 60.9% in the fourth quarter. Macquarie Group Ltd. now owns 22,600 shares of the oil and gas company’s stock valued at $1,953,000 after buying an additional 8,550 shares during the period. Beacon Financial Group boosted its stake in Phillips 66 by 3.1% in the first quarter. Beacon Financial Group now owns 101,514 shares of the oil and gas company’s stock worth $7,978,000 after buying an additional 3,071 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Phillips 66 by 10.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 3,981 shares of the oil and gas company’s stock worth $315,000 after buying an additional 385 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its stake in Phillips 66 by 19.8% in the first quarter. Norman Fields Gottscho Capital Management LLC now owns 99,309 shares of the oil and gas company’s stock worth $7,867,000 after buying an additional 16,415 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE:PSX) traded down 0.24% on Friday, hitting $83.44. 1,858,217 shares of the company were exchanged. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The company has a 50 day moving average price of $83.10 and a 200-day moving average price of $79.85. The stock has a market capitalization of $42.68 billion, a P/E ratio of 24.95 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities analysts expect that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.36%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is 83.58%.
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PSX has been the subject of a number of research reports. 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 Wednesday, April 19th. Royal Bank Of Canada restated a “hold” rating and issued a $87.00 price target on shares of Phillips 66 in a report on Thursday, April 20th. Citigroup Inc. restated a “neutral” rating and issued a $83.00 price target (down from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a report on Monday, May 1st. Finally, TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.53.
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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