Blue Fin Capital Inc. Sells 100 Shares of Phillips 66 (PSX)
Blue Fin Capital Inc. lowered its stake in Phillips 66 (NYSE:PSX) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 4,203 shares of the company’s stock after selling 100 shares during the period. Blue Fin Capital Inc.’s holdings in Phillips 66 were worth $333,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC purchased a new position in Phillips 66 during the second quarter valued at approximately $114,000. Trust Co. of Vermont increased its position 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 last quarter. Financial Architects Inc increased its position 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 last quarter. CWM LLC increased its position 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 last quarter. Finally, Signaturefd LLC increased its position in Phillips 66 by 8.4% in the second quarter. Signaturefd LLC now owns 2,268 shares of the company’s stock valued at $180,000 after buying an additional 175 shares during the last quarter. Institutional investors own 69.97% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.33% during trading on Tuesday, hitting $79.40. The stock had a trading volume of 714,550 shares. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of 13.74 and a beta of 1.37. The stock’s 50-day moving average is $79.51 and its 200-day moving average is $79.74.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating the 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 last year, the firm earned $1.83 EPS. On average, equities research analysts expect that Phillips 66 will post $3.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
A number of brokerages have recently issued reports on PSX. Vetr downgraded 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. TheStreet upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Finally, Barclays PLC downgraded Phillips 66 from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $93.00 to $86.00 in a report on Wednesday, July 13th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $86.12.
In other Phillips 66 news, major shareholder Berkshire Hathaway Inc bought 83,466 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were purchased at an average price of $78.29 per share, with a total value of $6,534,553.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.
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