Phillips 66 (PSX) Stake Increased by ING Groep NV
ING Groep NV boosted its stake in Phillips 66 (NYSE:PSX) by 67.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,463 shares of the oil and gas company’s stock after buying an additional 9,041 shares during the period. ING Groep NV’s holdings in Phillips 66 were worth $1,857,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC increased its position in shares of Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares in the last quarter. Winch Advisory Services LLC increased its position in shares of 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 in the last quarter. Westside Investment Management Inc. increased its position in shares of Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares in the last quarter. FTB Advisors Inc. increased its position 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. Finally, Farmers National Bank purchased a new position in shares of Phillips 66 during the first quarter valued at $113,000. 69.57% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) traded up 0.83% on Friday, hitting $81.56. 2,288,852 shares of the company’s stock traded hands. Phillips 66 has a one year low of $75.14 and a one year 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 stock has a market cap of $41.72 billion, a PE ratio of 24.39 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities analysts forecast that Phillips 66 will post $4.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s payout ratio is presently 83.58%.
Several research analysts recently weighed in on PSX shares. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Finally, Scotiabank set a $86.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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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