CrestPoint Capital Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 91.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,600 shares of the oil and gas company’s stock after buying an additional 6,500 shares during the period. CrestPoint Capital Management LLC’s holdings in Phillips 66 were worth $1,125,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in PSX. Jacobi Capital Management LLC boosted its stake in shares of Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares in the last quarter. Winch Advisory Services LLC boosted its stake in shares of Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares in the last quarter. Finally, Farmers National Bank purchased a new stake in shares of Phillips 66 during the first quarter worth about $113,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
Shares of Phillips 66 (PSX) traded down 0.24% on Friday, hitting $83.44. The stock had a trading volume of 1,858,217 shares. The firm 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 has a 52 week low of $75.14 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter last year, the business posted $0.94 EPS. Equities analysts expect that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio is currently 83.58%.
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PSX has been the topic of a number of research reports. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research note on Friday, July 14th. Barclays PLC restated an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Finally, Scotiabank restated a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus 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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