Vestor Capital LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,895 shares of the oil and gas company’s stock after purchasing an additional 770 shares during the quarter. Phillips 66 makes up about 1.7% of Vestor Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Vestor Capital LLC’s holdings in Phillips 66 were worth $7,020,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Guardian Life Insurance Co. of America raised its position in shares of Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after purchasing an additional 11 shares during the period. Joel Isaacson & Co. LLC raised its position in shares of Phillips 66 by 0.4% in the second quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock valued at $316,000 after purchasing an additional 14 shares during the period. Hudock Capital Group LLC raised its position in shares of Phillips 66 by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,509 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC raised its position in shares of Phillips 66 by 0.3% in the second quarter. Good Life Advisors LLC now owns 6,198 shares of the oil and gas company’s stock valued at $511,000 after purchasing an additional 17 shares during the period. Finally, Northwest Quadrant Wealth Management LLC raised its position in shares of Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 69.54% of the company’s stock.
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Shares of Phillips 66 (NYSE PSX) opened at 93.68 on Thursday. The firm’s 50-day moving average is $88.12 and its 200-day moving average is $82.15. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $94.69. The firm has a market capitalization of $47.92 billion, a P/E ratio of 28.03 and a beta of 1.19.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for 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 in the prior year, the business earned $0.94 earnings per share. Equities analysts anticipate that Phillips 66 will post $4.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 83.58%.
Phillips 66 announced that its Board of Directors has initiated a stock buyback program on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on PSX shares. Scotiabank reissued a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research report on Friday, July 14th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target 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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