United Capital Financial Advisers LLC Boosts Stake in Phillips 66 (PSX)

United Capital Financial Advisers LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,846 shares of the oil and gas company’s stock after buying an additional 5,441 shares during the period. United Capital Financial Advisers LLC’s holdings in Phillips 66 were worth $10,603,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PSX. Hamilton Point Investment Advisors LLC raised its stake in Phillips 66 by 2.1% in the first quarter. Hamilton Point Investment Advisors LLC now owns 34,782 shares of the oil and gas company’s stock worth $2,755,000 after buying an additional 710 shares in the last quarter. BlackRock Inc. raised its stake in 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 in the last quarter. Renaissance Technologies LLC bought a new stake in Phillips 66 during the first quarter worth $14,981,000. Johnson Financial Group Inc. raised its stake in Phillips 66 by 11.0% in the first quarter. Johnson Financial Group Inc. now owns 21,458 shares of the oil and gas company’s stock worth $1,700,000 after buying an additional 2,124 shares in the last quarter. Finally, Davidson Investment Advisors increased its position in shares of Phillips 66 by 69.8% in the first quarter. Davidson Investment Advisors now owns 1,922 shares of the oil and gas company’s stock worth $152,000 after buying an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.

Shares of Phillips 66 (PSX) opened at 81.56 on Friday. The firm has a market cap of $41.72 billion, a P/E ratio of 24.39 and a beta of 1.22. The company has a 50-day moving average of $83.33 and a 200 day moving average of $79.81. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping 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 net margin of 1.87% and a return on equity of 6.29%. During the same period last year, the company posted $0.94 earnings per share. Equities research analysts anticipate that Phillips 66 will post $4.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio is currently 83.58%.

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A number of brokerages have recently issued reports on PSX. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank reissued a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $88.00 target price on shares of Phillips 66 in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus 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.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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