Quadrature Capital Ltd trimmed its position in Phillips 66 (NYSE:PSX) by 36.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,643 shares of the oil and gas company’s stock after selling 12,564 shares during the quarter. Quadrature Capital Ltd’s holdings in Phillips 66 were worth $1,556,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Balentine LLC boosted its position in shares of Phillips 66 by 185.3% during the 2nd quarter. Balentine LLC now owns 505 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 328 shares during the last quarter. Coastal Capital Group Inc. boosted its position in shares of Phillips 66 by 52.1% during the 2nd quarter. Coastal Capital Group Inc. now owns 552 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 189 shares during the last quarter. Berman Capital Advisors LLC boosted its position in shares of Phillips 66 by 59.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 557 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 208 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Phillips 66 by 179.5% during the 1st quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Finally, Tompkins Financial Corp lifted its position in Phillips 66 by 74.4% in the second quarter. Tompkins Financial Corp now owns 600 shares of the oil and gas company’s stock worth $43,000 after buying an additional 256 shares during the last quarter. 65.91% of the stock is owned by institutional investors.
Shares of Phillips 66 stock traded down $0.71 on Friday, reaching $58.98. The company’s stock had a trading volume of 3,420,031 shares, compared to its average volume of 3,087,800. The company has a market capitalization of $25.76 billion, a P/E ratio of -21.29, a PEG ratio of 12.15 and a beta of 1.51. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The stock has a 50-day moving average price of $62.68 and a 200-day moving average price of $67.08. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. The firm had revenue of $11.18 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the firm posted $3.02 earnings per share. Sell-side analysts forecast that Phillips 66 will post 0.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Monday, August 17th. Phillips 66’s payout ratio is 44.72%.
In other news, Director John E. Lowe purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $68.43 per share, for a total transaction of $102,645.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 5,000 shares of company stock valued at $325,600 over the last quarter. 0.63% of the stock is owned by company insiders.
A number of analysts recently issued reports on PSX shares. Mizuho lowered their price target on Phillips 66 from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Citigroup dropped their price objective on Phillips 66 from $103.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Scotiabank dropped their price objective on Phillips 66 from $90.00 to $79.00 and set a “sector outperform” rating on the stock in a research report on Monday, July 13th. Raymond James lowered their price target on Phillips 66 from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered their price target on Phillips 66 from $90.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $81.53.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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