IFC Holdings Incorporated FL cut its holdings in shares of Phillips 66 (NYSE:PSX) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,857 shares of the oil and gas company’s stock after selling 213 shares during the period. IFC Holdings Incorporated FL’s holdings in Phillips 66 were worth $1,065,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its position in shares of Phillips 66 by 430.6% during the second quarter. Teacher Retirement System of Texas now owns 168,109 shares of the oil and gas company’s stock worth $13,901,000 after buying an additional 136,425 shares during the period. Partnervest Advisory Services LLC boosted its position in shares of Phillips 66 by 2.4% during the second quarter. Partnervest Advisory Services LLC now owns 4,275 shares of the oil and gas company’s stock worth $353,000 after buying an additional 100 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Phillips 66 by 7.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,921,616 shares of the oil and gas company’s stock worth $158,899,000 after buying an additional 129,917 shares during the period. Palisade Asset Management LLC boosted its position in shares of Phillips 66 by 8.4% during the second quarter. Palisade Asset Management LLC now owns 8,402 shares of the oil and gas company’s stock worth $695,000 after buying an additional 650 shares during the period. Finally, Arrow Financial Corp boosted its position in shares of Phillips 66 by 3.1% during the second quarter. Arrow Financial Corp now owns 33,395 shares of the oil and gas company’s stock worth $2,762,000 after buying an additional 1,003 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
Several equities analysts have recently issued reports on the company. Barclays PLC reiterated an “equal weight” rating and set a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 5th. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research report on Friday, September 8th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.93.
Shares of Phillips 66 (NYSE PSX) opened at 86.20 on Friday. The firm has a market capitalization of $44.09 billion, a P/E ratio of 25.79 and a beta of 1.20. The firm has a 50-day moving average price of $84.05 and a 200-day moving average price of $80.39. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post $4.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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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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