ZWJ Investment Counsel Inc. increased its stake in Phillips 66 (NYSE:PSX) by 55.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,751 shares of the oil and gas company’s stock after buying an additional 1,340 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Phillips 66 were worth $297,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock valued at $661,561,000 after buying an additional 205,952 shares in the last quarter. Swiss National Bank boosted its stake in Phillips 66 by 26.7% in the first quarter. Swiss National Bank now owns 1,661,114 shares of the oil and gas company’s stock worth $131,593,000 after buying an additional 350,100 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Phillips 66 by 5.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,470,112 shares of the oil and gas company’s stock worth $116,462,000 after buying an additional 73,882 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Phillips 66 by 3.1% in the first quarter. First Eagle Investment Management LLC now owns 1,266,926 shares of the oil and gas company’s stock worth $100,366,000 after buying an additional 38,650 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Phillips 66 by 3.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,049,325 shares of the oil and gas company’s stock worth $83,128,000 after buying an additional 39,846 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Phillips 66 (PSX) traded up 0.06% during midday trading on Wednesday, hitting $83.03. 2,138,380 shares of the company were exchanged. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The stock has a 50 day moving average of $83.30 and a 200 day moving average of $79.78. The firm has a market capitalization of $42.47 billion, a PE ratio of 24.83 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 firm had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. During the same period last year, the firm posted $0.94 EPS. On average, equities analysts predict that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s dividend payout ratio is presently 83.58%.
A number of research firms have weighed in on PSX. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Barclays PLC reaffirmed an “equal weight” rating and set a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Citigroup Inc. reissued a “neutral” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Phillips 66 in a research note on Saturday, April 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $87.00 price objective on shares of Phillips 66 in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $83.53.
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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