Phillips 66 (PSX) Shares Bought by Westpac Banking Corp
Westpac Banking Corp increased its stake in shares of Phillips 66 (NYSE:PSX) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 108,817 shares of the company’s stock after buying an additional 7,776 shares during the period. Westpac Banking Corp’s holdings in Phillips 66 were worth $7,904,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new position in Phillips 66 during the second quarter valued at $64,384,000. Neuberger Berman Group LLC boosted its position in shares of Phillips 66 by 352.8% in the second quarter. Neuberger Berman Group LLC now owns 899,533 shares of the company’s stock worth $71,369,000 after buying an additional 700,856 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Phillips 66 by 3.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,562,698 shares of the company’s stock worth $1,155,404,000 after buying an additional 459,964 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Phillips 66 during the second quarter worth approximately $31,281,000. Finally, PGGM Investments boosted its position in shares of Phillips 66 by 98.1% in the second quarter. PGGM Investments now owns 732,347 shares of the company’s stock worth $58,104,000 after buying an additional 362,634 shares during the last quarter. 69.98% of the stock is owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded up 0.18% on Wednesday, hitting $79.72. 202,892 shares of the stock were exchanged. The stock has a market cap of $41.68 billion, a PE ratio of 13.80 and a beta of 1.38. The company’s 50 day moving average is $78.34 and its 200-day moving average is $80.69. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same period last year, the company earned $1.83 earnings per share. Analysts predict that Phillips 66 will post $3.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Tuesday, August 16th. Phillips 66’s dividend payout ratio is currently 43.83%.
A number of equities analysts have commented on PSX shares. Vetr raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price objective for the company in a research note on Monday, September 12th. Piper Jaffray Cos. lifted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. TheStreet raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Jefferies Group started coverage on shares of Phillips 66 in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective for the company. Finally, Morgan Stanley reissued a “hold” rating on shares of Phillips 66 in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $85.52.
In related news, major shareholder Berkshire Hathaway Inc bought 17,910 shares of the stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $77.52 per share, with a total value of $1,388,383.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Timothy Garth Taylor sold 50,000 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $78.00, for a total transaction of $3,900,000.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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