Glenmede Trust Co. NA continued to hold its position in shares of Phillips 66 (NYSE:PSX) during the first quarter, Holdings Channel reports. The institutional investor owned 224,439 shares of the oil and gas company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Phillips 66 were worth $19,393,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PSX. BlackRock Inc. raised its position in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after buying an additional 26,676,647 shares during the period. OppenheimerFunds Inc. raised its position in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after buying an additional 3,943,299 shares during the period. New England Asset Management Inc. acquired a new position in shares of Phillips 66 during the first quarter worth $104,095,000. State Street Corp raised its position in shares of Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Phillips 66 by 2.5% in the first quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock worth $2,510,918,000 after buying an additional 780,469 shares during the period. Institutional investors own 69.78% of the company’s stock.
Phillips 66 (NYSE PSX) traded down 0.18% during midday trading on Friday, hitting $83.49. 504,720 shares of the stock traded hands. The stock has a market cap of $42.71 billion, a PE ratio of 24.97 and a beta of 1.22. The company has a 50-day moving average of $82.97 and a 200-day moving average of $79.84. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. During the same period last year, the business posted $0.94 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post $4.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
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A number of brokerages have weighed in on PSX. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Barclays PLC reissued an “equal weight” rating and issued a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank set a $86.00 target price on Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $83.00 target price (down previously from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $83.53.
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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