Essex Savings Bank Acquires 738 Shares of Phillips 66 (NYSE:PSX)

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Essex Savings Bank raised its holdings in Phillips 66 (NYSE:PSX) by 10.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,502 shares of the oil and gas company’s stock after buying an additional 738 shares during the quarter. Essex Savings Bank’s holdings in Phillips 66 were worth $540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Phillips 66 by 3.9% during the first quarter. BlackRock Inc. now owns 31,599,517 shares of the oil and gas company’s stock valued at $1,695,316,000 after purchasing an additional 1,188,569 shares in the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 7.7% during the first quarter. State Street Corp now owns 24,392,064 shares of the oil and gas company’s stock valued at $1,308,634,000 after purchasing an additional 1,749,706 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 2.3% during the first quarter. Wells Fargo & Company MN now owns 11,348,968 shares of the oil and gas company’s stock valued at $608,871,000 after purchasing an additional 255,212 shares in the last quarter. Aristotle Capital Management LLC boosted its position in shares of Phillips 66 by 2.7% during the first quarter. Aristotle Capital Management LLC now owns 7,034,616 shares of the oil and gas company’s stock valued at $377,407,000 after purchasing an additional 183,173 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Phillips 66 by 3.0% during the first quarter. Nuveen Asset Management LLC now owns 3,533,781 shares of the oil and gas company’s stock valued at $189,588,000 after purchasing an additional 104,551 shares in the last quarter. Institutional investors own 66.79% of the company’s stock.

PSX has been the topic of several research reports. Raymond James dropped their price target on Phillips 66 from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday, April 20th. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Monday, July 20th. Finally, Citigroup dropped their target price on Phillips 66 from $103.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $83.47.

Shares of PSX stock traded down $1.07 during mid-day trading on Friday, hitting $62.02. The company’s stock had a trading volume of 5,835,880 shares, compared to its average volume of 2,862,574. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The business has a 50-day moving average price of $67.98 and a 200 day moving average price of $73.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 6.53 and a beta of 1.60.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same period in the previous year, the firm posted $3.02 earnings per share. Equities research analysts predict that Phillips 66 will post 1.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s dividend payout ratio is currently 44.72%.

In other news, Director John E. Lowe acquired 1,500 shares of Phillips 66 stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average price of $68.43 per share, for a total transaction of $102,645.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Kramer Adams acquired 1,250 shares of Phillips 66 stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average price of $76.40 per share, with a total value of $95,500.00. Following the transaction, the director now owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders bought 3,750 shares of company stock valued at $268,305 in the last 90 days. Company insiders own 0.63% of the company’s stock.

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

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