YHB Investment Advisors Inc. grew its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,814 shares of the oil and gas company’s stock after buying an additional 1,470 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Phillips 66 were worth $969,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dravo Bay LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $26,000. GoalVest Advisory LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $28,000. First Community Trust NA grew its position in shares of Phillips 66 by 60.6% during the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 126 shares in the last quarter. Accel Wealth Management grew its position in shares of Phillips 66 by 127.4% during the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Finally, Worth Asset Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $32,000. 71.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on PSX shares. Wolfe Research lowered shares of Phillips 66 from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, September 14th. Wells Fargo & Company increased their target price on shares of Phillips 66 from $119.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. Credit Suisse Group increased their price target on shares of Phillips 66 to $122.00 in a research report on Thursday, June 9th. BMO Capital Markets started coverage on shares of Phillips 66 in a research report on Monday, June 13th. They set an “outperform” rating and a $132.00 price target on the stock. Finally, StockNews.com lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.73.
Phillips 66 Price Performance
Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating the consensus estimate of $5.92 by $0.85. The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The firm’s revenue was up 76.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Research analysts predict that Phillips 66 will post 16.3 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Wednesday, August 17th. Phillips 66’s payout ratio is currently 33.42%.
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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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