Parametric Portfolio Associates LLC Decreases Holdings in Phillips 66 (NYSE:PSX)

Parametric Portfolio Associates LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,100,177 shares of the oil and gas company’s stock after selling 32,120 shares during the period. Parametric Portfolio Associates LLC owned about 0.47% of Phillips 66 worth $196,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Advisors Preferred LLC purchased a new stake in Phillips 66 in the 2nd quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new position in Phillips 66 in the 2nd quarter worth $26,000. Harvest Group Wealth Management LLC acquired a new position in shares of Phillips 66 in the first quarter valued at about $31,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 in the second quarter worth about $32,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 in the second quarter worth about $37,000. Institutional investors own 68.82% of the company’s stock.

Phillips 66 stock traded down $0.68 during trading on Wednesday, hitting $102.28. The company had a trading volume of 134,570 shares, compared to its average volume of 2,134,029. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.14. The company’s 50 day simple moving average is $99.46 and its 200-day simple moving average is $94.55.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The business had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. During the same period last year, the business posted $2.80 earnings per share. As a group, analysts forecast that Phillips 66 will post 7.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Monday, August 19th. Phillips 66’s dividend payout ratio (DPR) is 30.74%.

A number of brokerages recently commented on PSX. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. Cowen increased their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Scotiabank began coverage on shares of Phillips 66 in a report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Finally, ValuEngine downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $115.55.

Phillips 66 Company Profile

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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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