National Planning Corp lessened its position in Phillips 66 (NYSE:PSX) by 35.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,648 shares of the oil and gas company’s stock after selling 2,005 shares during the period. National Planning Corp’s holdings in Phillips 66 were worth $304,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Phillips 66 by 7.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,921,616 shares of the oil and gas company’s stock worth $158,899,000 after acquiring an additional 129,917 shares during the period. Palisade Asset Management LLC lifted its stake in shares of Phillips 66 by 8.4% in the 2nd quarter. Palisade Asset Management LLC now owns 8,402 shares of the oil and gas company’s stock worth $695,000 after acquiring an additional 650 shares during the period. Arrow Financial Corp lifted its stake in shares of Phillips 66 by 3.1% in the 2nd quarter. Arrow Financial Corp now owns 33,395 shares of the oil and gas company’s stock worth $2,762,000 after acquiring an additional 1,003 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter worth $3,097,000. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of Phillips 66 by 0.4% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock worth $316,000 after acquiring an additional 14 shares during the period. Institutional investors own 69.57% of the company’s stock.

Phillips 66 (PSX) opened at 85.73 on Wednesday. The firm’s 50-day moving average is $83.84 and its 200 day moving average is $80.25. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The stock has a market capitalization of $43.85 billion, a P/E ratio of 25.64 and a beta of 1.20.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. During the same period in the prior year, the company earned $0.94 EPS. Equities research analysts anticipate that Phillips 66 will post $4.20 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.

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Several analysts have recently commented on PSX shares. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Finally, Scotiabank restated a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.93.

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.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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