Vident Investment Advisory LLC purchased a new position in Phillips 66 (NYSE:PSX) during the first quarter, Holdings Channel reports. The institutional investor purchased 28,808 shares of the oil and gas company’s stock, valued at approximately $2,282,000.

Several other hedge funds have also recently made changes to their positions in PSX. Winch Advisory Services LLC increased its stake in shares of Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares in the last quarter. Barrett Asset Management LLC increased its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock worth $153,000 after buying an additional 61 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,315 shares in the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.

Shares of Phillips 66 (NYSE:PSX) opened at 81.81 on Tuesday. The stock has a market capitalization of $42.22 billion, a PE ratio of 25.38 and a beta of 1.22. Phillips 66 has a 52-week low of $73.82 and a 52-week high of $88.87. The stock’s 50 day moving average is $78.80 and its 200 day moving average is $80.27.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. The business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period last year, the business earned $0.67 EPS. Equities research analysts expect that Phillips 66 will post $4.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 86.96%.

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Several analysts recently weighed in on PSX shares. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors reiterated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a report on Friday. Scotiabank reiterated a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a report on Tuesday, June 27th. Finally, Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $84.12.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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