Amalgamated Bank Boosts Stake in Phillips 66 (PSX)
Amalgamated Bank raised its stake in Phillips 66 (NYSE:PSX) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,562 shares of the oil and gas company’s stock after buying an additional 1,830 shares during the period. Amalgamated Bank’s holdings in Phillips 66 were worth $2,500,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the period. OppenheimerFunds Inc. boosted its stake in Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares during the period. Vanguard Group Inc. boosted its stake in Phillips 66 by 2.5% in the first quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock valued at $2,510,918,000 after buying an additional 780,469 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after buying an additional 585,176 shares during the period. Finally, Swiss National Bank boosted its stake in Phillips 66 by 26.7% in the first quarter. Swiss National Bank now owns 1,661,114 shares of the oil and gas company’s stock valued at $131,593,000 after buying an additional 350,100 shares during the period. 69.78% of the stock is currently owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded down 0.33% during trading on Tuesday, reaching $84.79. 244,726 shares of the company’s stock were exchanged. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The company’s 50-day moving average price is $81.91 and its 200 day moving average price is $79.67. The firm has a market capitalization of $43.37 billion, a PE ratio of 25.36 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. During the same period in the prior year, the company earned $0.94 EPS. Analysts predict that Phillips 66 will post $4.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
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Several analysts have recently commented on PSX shares. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Royal Bank Of Canada restated a “hold” rating and issued a $87.00 target price on shares of Phillips 66 in a research note on Thursday, April 20th. Citigroup Inc. restated a “neutral” rating and issued a $83.00 target price (down previously from $84.00) on shares of Phillips 66 in a research note on Saturday, April 22nd. Scotiabank set a $86.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Monday, May 1st. Finally, TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $83.53.
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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