FDx Advisors Inc. cut its holdings in shares of Phillips 66 (NYSE:PSX) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,848 shares of the oil and gas company’s stock after selling 628 shares during the quarter. FDx Advisors Inc.’s holdings in Phillips 66 were worth $1,576,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Opus Investment Management Inc. purchased a new position in Phillips 66 during the 1st quarter worth approximately $446,000. Boston Partners grew its stake in shares of Phillips 66 by 6.8% during the 1st quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock worth $72,929,000 after purchasing an additional 48,968 shares during the period. Executive Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $161,000. Millennium Management LLC grew its stake in shares of Phillips 66 by 61.1% during the 4th quarter. Millennium Management LLC now owns 2,141,445 shares of the oil and gas company’s stock worth $184,485,000 after purchasing an additional 811,879 shares during the period. Finally, Hancock Whitney Corp grew its stake in shares of Phillips 66 by 2.1% during the 4th quarter. Hancock Whitney Corp now owns 63,939 shares of the oil and gas company’s stock worth $5,509,000 after purchasing an additional 1,293 shares during the period. 69.97% of the stock is owned by institutional investors.
In related news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The firm had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter last year, the company earned $1.04 EPS. As a group, analysts expect that Phillips 66 will post 7.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $0.90 dividend. The ex-dividend date is Monday, August 19th. This represents a $3.60 dividend on an annualized basis and a yield of 3.52%. Phillips 66’s dividend payout ratio is currently 30.74%.
A number of equities research analysts have recently commented on PSX shares. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Bank of America reaffirmed a “buy” rating and set a $420.00 price objective (up previously from $400.00) on shares of Lendingtree in a research note on Monday, April 29th. Jefferies Financial Group started coverage on shares of Pinduoduo in a research note on Monday, April 15th. They set a “buy” rating and a $30.00 price objective on the stock. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a GBX 460 ($6.01) price objective on shares of Sophos Group in a research note on Friday, May 17th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $117.82.
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; 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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