Phillips 66 (PSX) Shares Sold by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS lowered its stake in Phillips 66 (NYSE:PSX) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 119,849 shares of the company’s stock after selling 1,217 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Phillips 66 were worth $9,509,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PSX. Cribstone Capital Management LLC purchased a new stake in Phillips 66 during the second quarter valued at about $114,000. Trust Co. of Vermont raised its stake in Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock valued at $153,000 after buying an additional 103 shares during the period. Financial Architects Inc raised its stake in Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock valued at $160,000 after buying an additional 1,622 shares during the period. CWM LLC raised its stake in Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock valued at $170,000 after buying an additional 739 shares during the period. Finally, Daiwa SB Investments Ltd. raised its stake in Phillips 66 by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 2,400 shares of the company’s stock valued at $191,000 after buying an additional 190 shares during the period. 69.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded up 0.20% on Friday, reaching $79.31. 1,420,794 shares of the company were exchanged. The firm has a market capitalization of $41.47 billion, a PE ratio of 13.73 and a beta of 1.37. The stock’s 50-day moving average is $79.50 and its 200 day moving average is $79.90. Phillips 66 has a 12-month low of $71.74 and a 12-month 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 return on equity of 13.44% and a net margin of 3.51%. During the same period in the previous year, the company posted $1.83 EPS. On average, analysts forecast that Phillips 66 will post $3.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s dividend payout ratio is currently 43.83%.
Several equities analysts have recently weighed in 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 on the stock in a research report on Monday, September 12th. Piper Jaffray Cos. increased their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. TheStreet raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Jefferies Group started coverage on shares of Phillips 66 in a research report on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective on the stock. Finally, Goldman Sachs Group Inc. raised shares of Phillips 66 from a “sell” rating to a “neutral” rating and increased their price objective for the company from $74.00 to $85.00 in a research report on Thursday, September 29th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $86.12.
In other news, major shareholder Berkshire Hathaway Inc acquired 17,910 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $77.52 per share, for a total transaction of $1,388,383.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.05% of the stock is 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.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.