Tributary Capital Management LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the oil and gas company’s stock after selling 200 shares during the period. Tributary Capital Management LLC’s holdings in Phillips 66 were worth $372,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Macquarie Group Ltd. boosted its position 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 worth $1,953,000 after buying an additional 8,550 shares during the last quarter. Alpha Windward LLC boosted its position in Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock worth $240,000 after buying an additional 9 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its position in Phillips 66 by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,616 shares of the oil and gas company’s stock worth $366,000 after buying an additional 236 shares during the last quarter. Tompkins Financial Corp boosted its position in Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,315 shares during the last quarter. Finally, Peoples Financial Services CORP. boosted its position in Phillips 66 by 13.1% in the first quarter. Peoples Financial Services CORP. now owns 6,126 shares of the oil and gas company’s stock worth $485,000 after buying an additional 711 shares during the last quarter. 69.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE PSX) traded down 0.04% on Wednesday, reaching $82.95. 721,161 shares of the company’s stock traded hands. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The firm has a market capitalization of $42.43 billion, a P/E ratio of 24.81 and a beta of 1.22. The firm’s 50 day moving average is $83.30 and its 200 day moving average is $79.78.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the business posted $0.94 EPS. Analysts expect that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.35%. Phillips 66’s dividend payout ratio is presently 83.58%.
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PSX has been the topic of a number of research analyst reports. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 price target on shares of Phillips 66 in a report on Friday, July 14th. Barclays PLC restated an “equal weight” rating and issued a $89.00 price target (up from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Finally, Scotiabank restated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. 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. Phillips 66 has an average rating of “Hold” and an average target price 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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