Public Employees Retirement Association of Colorado Has $39,779,000 Position in Phillips 66 (PSX)
Public Employees Retirement Association of Colorado reduced its position in shares of Phillips 66 (NYSE:PSX) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,372 shares of the company’s stock after selling 18,608 shares during the period. Public Employees Retirement Association of Colorado owned about 0.10% of Phillips 66 worth $39,779,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cribstone Capital Management LLC bought a new position in shares of Phillips 66 during the second quarter worth about $114,000. Trust Co. of Vermont increased its position in shares of Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock valued at $153,000 after buying an additional 103 shares during the last quarter. Financial Architects Inc increased its position in shares of Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock valued at $160,000 after buying an additional 1,622 shares during the last quarter. CWM LLC increased its position in shares of Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock valued at $170,000 after buying an additional 739 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $203,000. 69.99% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded up 0.98% during trading on Monday, hitting $81.18. The stock had a trading volume of 819,917 shares. Phillips 66 has a one year low of $71.74 and a one year high of $94.12. The firm has a market cap of $42.44 billion, a price-to-earnings ratio of 14.05 and a beta of 1.37. The stock’s 50-day moving average is $79.20 and its 200 day moving average is $80.14.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Equities analysts anticipate that Phillips 66 will post $3.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio is presently 43.83%.
Several brokerages have recently weighed in on PSX. Barclays PLC reduced their target price on Phillips 66 from $86.00 to $84.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Phillips 66 in a research note on Sunday, June 12th. Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a research note on Monday, August 1st. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 target price for the company in a research note on Monday, September 12th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus price target of $86.12.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc purchased 17,910 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $77.52 per share, for a total transaction of $1,388,383.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is owned by corporate insiders.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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