Phillips 66 (PSX) Shares Bought by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL boosted its holdings in Phillips 66 (NYSE:PSX) by 44.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,012 shares of the oil and gas company’s stock after buying an additional 12,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Phillips 66 were worth $3,226,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its stake in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 11 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in Phillips 66 by 0.4% in the second quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 14 shares in the last quarter. Northwest Quadrant Wealth Management LLC boosted its stake in Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 18 shares in the last quarter. CWM LLC boosted its stake in Phillips 66 by 0.6% in the second quarter. CWM LLC now owns 3,584 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 23 shares in the last quarter. Finally, Argent Trust Co boosted its stake in Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 27 shares in the last quarter. 69.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (PSX) opened at 88.31 on Tuesday. The stock’s 50 day moving average price is $84.27 and its 200-day moving average price is $80.55. The firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of 26.42 and a beta of 1.20. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $25.14 billion. During the same period in the prior year, the business earned $0.94 EPS. Equities analysts predict that Phillips 66 will post $4.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.
Several analysts recently weighed in on PSX shares. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of Phillips 66 in a research note on Thursday, May 25th. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Finally, BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $83.93.
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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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