Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,000 shares of the oil and gas company’s stock after selling 351 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Phillips 66 were worth $3,648,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in PSX. Harvest Group Wealth Management LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $31,000. TCG Advisors LP bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $38,000. Burt Wealth Advisors lifted its position in shares of Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Glassman Wealth Services lifted its position in shares of Phillips 66 by 32.6% in the 1st quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 116 shares during the period. Finally, Trust Department MB Financial Bank N A lifted its position in shares of Phillips 66 by 101.7% in the 1st quarter. Trust Department MB Financial Bank N A now owns 488 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 69.97% of the company’s stock.
In related news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
PSX has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Pinduoduo in a research report on Monday, April 15th. They issued a “buy” rating and a $30.00 price objective for the company. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Bank of America reiterated a “buy” rating and issued a $420.00 price objective (up previously from $400.00) on shares of Lendingtree in a research report on Monday, April 29th. Citigroup raised their price objective on from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price objective on shares of Sophos Group in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and a consensus price target of $117.82.
Shares of PSX traded up $0.04 during mid-day trading on Friday, reaching $101.61. The company had a trading volume of 656,474 shares, compared to its average volume of 2,507,027. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $93.84. The stock has a market cap of $46.03 billion, a P/E ratio of 8.68, a P/E/G ratio of 2.10 and a beta of 1.08.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. During the same period in the previous year, the firm posted $2.80 earnings per share. On average, equities analysts predict that Phillips 66 will post 7.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s payout ratio is presently 30.74%.
Phillips 66 Company 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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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