Shell Asset Management Co. Has $4.43 Million Position in Phillips 66 (PSX)
Shell Asset Management Co. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 17.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,534 shares of the oil and gas company’s stock after buying an additional 8,076 shares during the period. Shell Asset Management Co.’s holdings in Phillips 66 were worth $4,427,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of The Ozarks boosted its position in Phillips 66 by 7.0% in the first quarter. Bank of The Ozarks now owns 8,836 shares of the oil and gas company’s stock valued at $700,000 after buying an additional 575 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Phillips 66 by 14.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 141,328 shares of the oil and gas company’s stock valued at $11,197,000 after buying an additional 17,409 shares in the last quarter. BB&T Corp boosted its position in Phillips 66 by 29.2% in the first quarter. BB&T Corp now owns 64,177 shares of the oil and gas company’s stock valued at $5,083,000 after buying an additional 14,515 shares in the last quarter. LS Investment Advisors LLC boosted its position in Phillips 66 by 5.2% in the first quarter. LS Investment Advisors LLC now owns 19,609 shares of the oil and gas company’s stock valued at $1,553,000 after buying an additional 970 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in Phillips 66 by 205.1% in the first quarter. Quantbot Technologies LP now owns 39,140 shares of the oil and gas company’s stock valued at $3,100,000 after buying an additional 26,310 shares in the last quarter. 69.57% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE PSX) opened at 81.90 on Tuesday. The stock’s 50 day moving average price is $83.31 and its 200-day moving average price is $79.80. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The firm has a market cap of $41.89 billion, a P/E ratio of 24.49 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, analysts predict that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders 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 dividend yield of 3.42%. Phillips 66’s dividend payout ratio is presently 83.58%.
Several equities research analysts have issued reports on PSX shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 price target on shares of Phillips 66 in a report on Thursday, May 25th. Scotiabank set a $86.00 price target on Phillips 66 and gave the company a “hold” rating in a report on Monday, May 1st. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Phillips 66 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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