Homrich & Berg Raises Stake in Phillips 66 (NYSE:PSX)
Homrich & Berg increased its stake in Phillips 66 (NYSE:PSX) by 42.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,572 shares of the oil and gas company’s stock after buying an additional 1,056 shares during the period. Homrich & Berg’s holdings in Phillips 66 were worth $283,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Lawson Kroeker Investment Management Inc. NE increased its stake 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 period. Creative Planning increased its stake 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 period. Raymond James Trust N.A. increased its stake in shares of Phillips 66 by 1.4% in the first quarter. Raymond James Trust N.A. now owns 49,455 shares of the oil and gas company’s stock worth $3,918,000 after buying an additional 703 shares during the period. New England Research & Management Inc. increased its stake in shares of Phillips 66 by 56.8% in the first quarter. New England Research & Management Inc. now owns 8,625 shares of the oil and gas company’s stock worth $683,000 after buying an additional 3,125 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Phillips 66 by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 382,719 shares of the oil and gas company’s stock worth $30,320,000 after buying an additional 9,093 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.83% during trading on Friday, reaching $81.56. The company’s stock had a trading volume of 2,288,852 shares. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 24.39 and a beta of 1.22. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The company has a 50 day moving average of $83.33 and a 200-day moving average of $79.81.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 business had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company earned $0.94 EPS. Analysts forecast that Phillips 66 will post $4.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Phillips 66’s payout ratio is 83.58%.
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A number of brokerages have recently issued reports on PSX. Barclays PLC reiterated an “equal weight” rating and set a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Scotiabank set a $86.00 price objective on Phillips 66 and gave the company a “hold” rating in a report on Tuesday, August 1st. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, 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. 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 given a strong buy rating to the stock. Phillips 66 currently has a consensus 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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