Phillips 66 (PSX) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 59.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,562 shares of the oil and gas company’s stock after selling 42,658 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Phillips 66 were worth $2,362,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its position in Phillips 66 by 27.4% during the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 277 shares during the period. Winch Advisory Services LLC boosted its position in Phillips 66 by 5,872.7% during the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 1,292 shares during the period. Meeder Asset Management Inc. bought a new position in Phillips 66 during the second quarter worth $116,000. Farmers National Bank bought a new position in Phillips 66 during the first quarter worth $113,000. Finally, Westside Investment Management Inc. boosted its position in Phillips 66 by 239.2% during the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,000 shares during the period. 69.57% of the stock is owned by hedge funds and other institutional investors.
PSX has been the subject of a number of research analyst reports. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. US Capital Advisors reissued a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and set a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $78.00 target price on shares of Phillips 66 in a report on Tuesday, September 5th. 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 company. The stock currently has an average rating of “Hold” and an average target price of $83.93.
Phillips 66 (NYSE PSX) opened at 85.19 on Tuesday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The firm has a market cap of $43.58 billion, a P/E ratio of 25.48 and a beta of 1.20. The company has a 50-day moving average price of $83.80 and a 200-day moving average price of $80.21.
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 the consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities research analysts forecast that Phillips 66 will post $4.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. Phillips 66’s payout ratio is 83.58%.
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Phillips 66 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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