Phillips 66 (PSX) Stake Increased by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,883 shares of the oil and gas company’s stock after buying an additional 403 shares during the period. Stratos Wealth Partners LTD.’s holdings in Phillips 66 were worth $1,575,000 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 position in 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 during the last quarter. Barrett Asset Management LLC increased its position in 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 during 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.
Shares of Phillips 66 (NYSE:PSX) traded up 0.83% on Friday, reaching $81.56. 2,288,852 shares of the company were exchanged. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The stock has a 50 day moving average of $83.33 and a 200-day moving average of $79.81. The company has a market capitalization of $41.72 billion, a P/E ratio of 24.39 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company 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 in the previous year, the company posted $0.94 EPS. On average, analysts predict that Phillips 66 will post $4.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio is currently 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 downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report 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.
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