FMR LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 23.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,484,485 shares of the oil and gas company’s stock after selling 1,668,645 shares during the period. FMR LLC owned approximately 1.06% of Phillips 66 worth $434,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC increased its position in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the last quarter. FTB Advisors Inc. increased its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 213 shares in the last quarter. Barrett Asset Management LLC increased its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 61 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 1,315 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 (NYSE:PSX) traded up 0.83% during mid-day trading on Friday, reaching $81.56. 2,288,852 shares of the company’s stock were exchanged. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The firm’s 50-day moving average is $83.33 and its 200 day moving average is $79.81. The stock has a market capitalization of $41.72 billion, a PE ratio of 24.39 and a beta of 1.22.

Phillips 66 (NYSE:PSX) last released its earnings results 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. 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 quarter last year, the company earned $0.94 EPS. Analysts forecast that Phillips 66 will post $4.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.43%. Phillips 66’s payout ratio is 83.58%.

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Several equities research analysts have weighed in on the company. Barclays PLC reaffirmed an “equal weight” rating and set a $89.00 price target (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Scotiabank set a $86.00 price target on Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Two 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 currently has an average rating of “Hold” and an average 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.

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

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