Gables Capital Management Inc. trimmed its position in Phillips 66 (NYSE:PSX) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,202 shares of the oil and gas company’s stock after selling 250 shares during the quarter. Gables Capital Management Inc.’s holdings in Phillips 66 were worth $302,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Efficient Wealth Management LLC acquired a new position in shares of Phillips 66 in the first quarter worth about $28,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Phillips 66 by 179.5% during the first quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 359 shares during the period. Harwood Advisory Group LLC acquired a new stake in shares of Phillips 66 during the first quarter worth approximately $36,000. Altshuler Shaham Ltd boosted its holdings in shares of Phillips 66 by 825.0% during the first quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 627 shares during the period. Finally, First Bank & Trust acquired a new stake in shares of Phillips 66 during the first quarter worth approximately $39,000. Institutional investors own 66.79% of the company’s stock.
In related news, Director John E. Lowe bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average price of $68.43 per share, with a total value of $102,645.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the transaction, the director now directly owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders have purchased 3,750 shares of company stock worth $268,305 in the last ninety days. 0.63% of the stock is currently owned by insiders.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. The company had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the firm posted $3.02 EPS. On average, analysts forecast that Phillips 66 will post 1.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently 44.72%.
Several research firms recently commented on PSX. Wolfe Research cut shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target for the company. in a report on Wednesday, May 13th. Bank of America upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $77.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Monday, July 20th. Finally, Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and an average target price of $83.47.
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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