Phillips 66 (PSX) Shares Bought by Manchester Capital Management LLC
Manchester Capital Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,766 shares of the oil and gas company’s stock after buying an additional 300 shares during the period. Manchester Capital Management LLC’s holdings in Phillips 66 were worth $973,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. BlackRock Inc. increased its position in Phillips 66 by 2,329.3% during the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after buying an additional 26,676,647 shares during the period. OppenheimerFunds Inc. increased its position in Phillips 66 by 599.8% during the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after buying an additional 3,943,299 shares during the period. Clearbridge Investments LLC increased its position in Phillips 66 by 4,771.9% during the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after buying an additional 1,396,918 shares during the period. New England Asset Management Inc. acquired a new position in Phillips 66 during the first quarter worth approximately $104,095,000. Finally, State Street Corp increased its position in Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares during the period. 69.54% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank reaffirmed a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a research report on Tuesday, September 5th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.30.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.
Phillips 66 (NYSE PSX) opened at 93.43 on Thursday. The firm has a market cap of $47.79 billion, a price-to-earnings ratio of 27.96 and a beta of 1.19. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $94.69. The stock has a 50 day moving average price of $86.49 and a 200-day moving average price of $81.62.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period in the prior year, the firm earned $0.94 EPS. Equities analysts forecast that Phillips 66 will post $4.35 earnings per share for the current year.
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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