Phillips 66 (PSX) Stake Decreased by Baxter Bros Inc.
Baxter Bros Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,964 shares of the oil and gas company’s stock after selling 325 shares during the period. Baxter Bros Inc.’s holdings in Phillips 66 were worth $1,320,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PSX. Vanguard Group Inc. raised its holdings in Phillips 66 by 2.5% in the first quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock valued at $2,510,918,000 after buying an additional 780,469 shares during the period. BlackRock Inc. raised its holdings in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the period. State Street Corp raised its holdings in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after buying an additional 585,176 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock valued at $661,561,000 after buying an additional 205,952 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
Shares of Phillips 66 (PSX) opened at 84.70 on Monday. The stock has a market cap of $43.32 billion, a price-to-earnings ratio of 25.33 and a beta of 1.20. The stock’s 50 day moving average is $83.77 and its 200-day moving average is $80.18. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87.
Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $25.14 billion. During the same period in the previous year, the company earned $0.94 EPS. On average, analysts anticipate that Phillips 66 will post $4.07 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.31%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
PSX has been the topic of several research reports. TheStreet lowered shares of Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Two equities research 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 a consensus rating of “Hold” and an average price target of $83.93.
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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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