LMR Partners LLP purchased a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,806 shares of the oil and gas company’s stock, valued at approximately $2,464,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. BlackRock Inc. boosted its position in shares of Phillips 66 by 2,329.3% in 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 purchasing an additional 26,676,647 shares during the period. OppenheimerFunds Inc. boosted its position in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after purchasing an additional 3,943,299 shares during the period. Clearbridge Investments LLC boosted its position in shares of Phillips 66 by 4,771.9% in 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 purchasing an additional 1,396,918 shares during the period. New England Asset Management Inc. bought a new position in shares of Phillips 66 in the first quarter worth approximately $104,095,000. Finally, State Street Corp boosted its position in shares of Phillips 66 by 4.0% in 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 purchasing an additional 921,895 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
A number of equities analysts recently weighed in on the stock. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Piper Jaffray Companies restated an “overweight” rating and set a $88.00 target price on shares of Phillips 66 in a research report on Thursday, May 25th. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Saturday, June 3rd. TheStreet lowered shares of Phillips 66 from a “b-” rating to a “c” rating in a research report on Monday, June 5th. Finally, BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.93.
Shares of Phillips 66 (NYSE PSX) opened at 87.67 on Friday. The stock has a market cap of $44.84 billion, a P/E ratio of 26.23 and a beta of 1.20. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The company’s 50-day moving average is $84.14 and its 200-day moving average is $80.45.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $25.14 billion. During the same quarter in the previous year, the company posted $0.94 EPS. Equities analysts expect that Phillips 66 will post $4.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.19%. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
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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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