Phillips 66 (PSX) Stake Raised by LMR Partners LLP
LMR Partners LLP boosted its position in Phillips 66 (NYSE:PSX) by 72.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,350 shares of the company’s stock after buying an additional 12,342 shares during the period. LMR Partners LLP’s holdings in Phillips 66 were worth $2,329,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. SignalPoint Asset Management LLC boosted its stake in Phillips 66 by 3.3% in the second quarter. SignalPoint Asset Management LLC now owns 7,203 shares of the company’s stock worth $571,000 after buying an additional 231 shares during the period. Savant Capital LLC boosted its position in Phillips 66 by 6.8% in the second quarter. Savant Capital LLC now owns 6,508 shares of the company’s stock valued at $516,000 after buying an additional 413 shares during the last quarter. Huntington National Bank boosted its position in Phillips 66 by 30.9% in the second quarter. Huntington National Bank now owns 186,710 shares of the company’s stock valued at $14,814,000 after buying an additional 44,052 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new position in Phillips 66 during the second quarter valued at approximately $235,000. Finally, Advisory Services Network LLC boosted its position in Phillips 66 by 9.7% in the second quarter. Advisory Services Network LLC now owns 7,046 shares of the company’s stock valued at $559,000 after buying an additional 621 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) traded down 0.39% during midday trading on Thursday, reaching $80.77. The company had a trading volume of 1,829,379 shares. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The stock’s 50 day moving average is $79.04 and its 200 day moving average is $80.20. The firm has a market capitalization of $42.23 billion, a price-to-earnings ratio of 13.98 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the prior year, the company earned $1.83 earnings per share. Equities research analysts expect that Phillips 66 will post $3.40 earnings per share for the current year.
Several research firms have commented on PSX. JPMorgan Chase & Co. reissued a “hold” rating on shares of Phillips 66 in a research note on Sunday, June 12th. Morgan Stanley reissued a “hold” rating on shares of Phillips 66 in a research note on Monday, August 1st. Zacks Investment Research upgraded shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Vetr upgraded 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 report on Monday, September 12th. Finally, Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $90.00 to $89.00 in a research report on Monday, July 11th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned 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 other Phillips 66 news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of the stock in a transaction on Monday, August 22nd. The stock was acquired at an average cost of $77.04 per share, for a total transaction of $22,350,536.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is owned by company 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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