Highland Capital Management LLC cut its stake in Phillips 66 (NYSE:PSX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,928 shares of the oil and gas company’s stock after selling 310 shares during the period. Highland Capital Management LLC’s holdings in Phillips 66 were worth $3,219,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PSX. Gulf International Bank UK Ltd raised its position in shares of Phillips 66 by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 145,565 shares of the oil and gas company’s stock worth $11,531,000 after buying an additional 1,725 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in shares of Phillips 66 by 9.0% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 56,400 shares of the oil and gas company’s stock worth $4,468,000 after buying an additional 4,637 shares during the last quarter. Stock Yards Bank & Trust Co. raised its position in shares of Phillips 66 by 2.6% in the first quarter. Stock Yards Bank & Trust Co. now owns 14,405 shares of the oil and gas company’s stock worth $1,142,000 after buying an additional 368 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its position in shares of Phillips 66 by 18.1% in the first quarter. Lawson Kroeker Investment Management Inc. NE now owns 3,789 shares of the oil and gas company’s stock worth $300,000 after buying an additional 582 shares during the last quarter. Finally, Creative Planning increased its position in shares of Phillips 66 by 0.8% in the first quarter. Creative Planning now owns 85,875 shares of the oil and gas company’s stock worth $6,803,000 after buying an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 83.03 on Thursday. The stock has a market capitalization of $42.47 billion, a P/E ratio of 24.83 and a beta of 1.22. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The company has a 50 day moving average of $83.37 and a 200-day moving average of $79.81.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period in the prior year, the company posted $0.94 earnings per share. Equities research analysts anticipate that Phillips 66 will post $4.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.37%. Phillips 66’s dividend payout ratio is presently 83.58%.
ILLEGAL ACTIVITY WARNING: “Highland Capital Management LLC Sells 310 Shares of Phillips 66 (NYSE:PSX)” was reported by BBNS and is the property of of BBNS. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/highland-capital-management-llc-reduces-position-in-phillips-66-nysepsx-updated-updated/1312309.html.
PSX has been the subject of a number of analyst reports. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors reissued a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $84.00 price objective on shares of Phillips 66 in a report on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and set a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Finally, Scotiabank reaffirmed a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.53.
About Phillips 66
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.
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with our FREE daily email newsletter.