Community Bank of Raymore Lowers Position in Phillips 66 (PSX)
Community Bank of Raymore lowered its position in shares of Phillips 66 (NYSE:PSX) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,515 shares of the company’s stock after selling 29 shares during the period. Community Bank of Raymore’s holdings in Phillips 66 were worth $200,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Bowling Portfolio Management LLC boosted its stake in Phillips 66 by 101.1% in the first quarter. Bowling Portfolio Management LLC now owns 45,461 shares of the company’s stock worth $3,936,000 after buying an additional 22,858 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Phillips 66 by 15.3% in the first quarter. CIBC World Markets Inc. now owns 116,870 shares of the company’s stock worth $10,120,000 after buying an additional 15,489 shares in the last quarter. Icon Advisers Inc. Co. boosted its stake in Phillips 66 by 4.6% in the first quarter. Icon Advisers Inc. Co. now owns 180,550 shares of the company’s stock worth $15,634,000 after buying an additional 8,000 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its stake in Phillips 66 by 81.2% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 8,031 shares of the company’s stock worth $695,000 after buying an additional 3,600 shares in the last quarter. Finally, Check Capital Management Inc. CA acquired a new stake in Phillips 66 during the first quarter worth approximately $901,000. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) traded down 0.73% on Tuesday, hitting $79.82. The company’s stock had a trading volume of 1,985,396 shares. The stock has a 50-day moving average price of $78.92 and a 200 day moving average price of $80.27. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 13.82 and a beta of 1.37. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share 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 firm posted $1.83 EPS. Equities research analysts predict that Phillips 66 will post $3.40 EPS for the current year.
A number of equities research analysts have commented on PSX shares. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $105.00 to $90.00 in a report on Friday, June 17th. Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price target on the stock. in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Phillips 66 in a report on Wednesday, June 29th. Finally, Zacks Investment Research cut Phillips 66 from a “hold” rating to a “strong sell” rating in a report on Monday, July 4th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.23.
In related news, major shareholder Berkshire Hathaway Inc purchased 290,116 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average cost of $77.04 per share, with a total value of $22,350,536.64. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.
Phillips 66 Company Profile
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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