Phillips 66 (PSX) Holdings Reduced by Hennessy Advisors Inc.
Hennessy Advisors Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,800 shares of the oil and gas company’s stock after selling 2,400 shares during the period. Hennessy Advisors Inc.’s holdings in Phillips 66 were worth $5,524,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its position in Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 277 shares during the last quarter. Motco raised its position in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 50 shares during the last quarter. Westside Investment Management Inc. raised its position in Phillips 66 by 239.2% during the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,000 shares during the last quarter. Farmers National Bank bought a new position in Phillips 66 during the 1st quarter valued at approximately $113,000. Finally, Ffcm LLC bought a new position in Phillips 66 during the 2nd quarter valued at approximately $113,000. 69.54% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (PSX) opened at 92.82 on Friday. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $94.69. The company has a market cap of $47.48 billion, a price-to-earnings ratio of 27.77 and a beta of 1.19. The company’s 50-day moving average price is $87.13 and its 200-day moving average price is $81.80.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 1.87% and a return on equity of 6.29%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities research analysts expect that Phillips 66 will post $4.33 EPS for the current fiscal year.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.
PSX has been the subject of a number of recent analyst reports. 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. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $89.30.
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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