Armor Investment Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 11,751 shares of the oil and gas company’s stock after selling 57 shares during the period. Armor Investment Advisors LLC’s holdings in Phillips 66 were worth $931,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP raised its position in shares of Phillips 66 by 62.6% in the fourth quarter. Marshall Wace LLP now owns 484,215 shares of the oil and gas company’s stock worth $41,841,000 after buying an additional 186,392 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $1,815,000. FIL Ltd raised its position in shares of Phillips 66 by 39.6% in the fourth quarter. FIL Ltd now owns 36,763 shares of the oil and gas company’s stock worth $3,177,000 after buying an additional 10,427 shares during the last quarter. WP Advisors LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $275,000. Finally, Glenview Trust Co purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $457,000. Institutional investors and hedge funds own 69.99% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) opened at 80.27 on Friday. The company has a market capitalization of $41.43 billion, a PE ratio of 24.91 and a beta of 1.27. The firm has a 50-day moving average price of $78.60 and a 200-day moving average price of $80.50. Phillips 66 has a 12 month low of $73.67 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.53. The firm had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. During the same period in the previous year, the firm earned $0.67 EPS. On average, equities research analysts predict that Phillips 66 will post $4.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This is a boost from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 annualized dividend and a yield of 3.49%. Phillips 66’s payout ratio is currently 86.96%.
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A number of research analysts recently commented on the company. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank set a $86.00 target price on Phillips 66 and gave the company a “hold” rating in a research note on Monday, May 1st. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 target price on shares of Phillips 66 in a research note on Thursday, May 25th. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.86.
Phillips 66 Company 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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