Fiduciary Trust Co. Cuts Holdings in Phillips 66 (PSX)

Fiduciary Trust Co. decreased its position in Phillips 66 (NYSE:PSX) by 3.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,680 shares of the oil and gas company’s stock after selling 841 shares during the quarter. Fiduciary Trust Co.’s holdings in Phillips 66 were worth $2,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Phillips 66 by 17.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,883 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 437 shares during the last quarter. Waters Parkerson & CO. LLC increased its position in shares of Phillips 66 by 14.0% during the 1st quarter. Waters Parkerson & CO. LLC now owns 3,584 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 440 shares during the last quarter. Atria Investments LLC increased its position in shares of Phillips 66 by 15.2% during the 1st quarter. Atria Investments LLC now owns 3,364 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 445 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Phillips 66 by 11.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 4,223 shares of the oil and gas company’s stock worth $474,000 after purchasing an additional 445 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its position in shares of Phillips 66 by 4.0% during the 1st quarter. Buckley Wealth Management LLC now owns 11,780 shares of the oil and gas company’s stock worth $1,130,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s stock.

Phillips 66 opened at $122.18 on Friday, MarketBeat.com reports. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $56.89 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. Phillips 66 has a 1-year low of $80.73 and a 1-year high of $123.97.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.64. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. The firm had revenue of $29.74 billion for the quarter, compared to analyst estimates of $29.40 billion. During the same period in the prior year, the firm posted $1.09 EPS. equities analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Tuesday, August 21st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Monday, August 20th. Phillips 66’s dividend payout ratio is 73.06%.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $120.00, for a total value of $828,000.00. Following the transaction, the vice president now directly owns 8,177 shares of the company’s stock, valued at approximately $981,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Several research analysts have weighed in on the company. Mizuho assumed coverage on Phillips 66 in a research report on Wednesday, August 1st. They set a “neutral” rating and a $124.00 price target on the stock. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research report on Wednesday, August 1st. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $127.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. Credit Suisse Group boosted their price target on Phillips 66 from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Finally, Wells Fargo & Co raised Phillips 66 from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $112.44.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

See Also: Earnings Per Share (EPS)

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

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