SVA Plumb Wealth Management LLC grew its position in Phillips 66 (NYSE:PSX) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,491 shares of the oil and gas company’s stock after purchasing an additional 3,600 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Phillips 66 were worth $4,506,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 valued at $2,510,918,000 after purchasing an additional 780,469 shares during the last quarter. BlackRock Inc. grew 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 valued at $2,204,052,000 after purchasing an additional 26,676,647 shares during the last quarter. State Street Corp grew 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 valued at $1,908,079,000 after purchasing an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after purchasing an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after purchasing an additional 71,098 shares during the last quarter. 69.54% of the stock is currently owned by institutional investors.
Shares of Phillips 66 (PSX) opened at 93.47 on Wednesday. The company has a 50 day moving average price of $87.80 and a 200 day moving average price of $82.07. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $94.69. The company has a market capitalization of $47.81 billion, a PE ratio of 27.97 and a beta of 1.19.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.94 EPS. On average, equities research analysts expect that Phillips 66 will post $4.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
Phillips 66 declared that its board has approved a share repurchase plan on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.
Several equities analysts have recently commented on the company. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank reiterated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 price target on shares of Phillips 66 in a research note on Tuesday, September 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $98.00 price target on shares of Phillips 66 in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $91.27.
Phillips 66 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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