APG Asset Management N.V. Reduces Position in Phillips 66 (NYSE:PSX)
APG Asset Management N.V. cut its position in shares of Phillips 66 (NYSE:PSX) by 8.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,223,761 shares of the oil and gas company’s stock after selling 119,500 shares during the period. APG Asset Management N.V.’s holdings in Phillips 66 were worth $101,193,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC increased its position in shares of Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares during the period. Winch Advisory Services LLC increased its position 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 valued at $104,000 after buying an additional 1,292 shares during the period. Westside Investment Management Inc. increased its position in shares of Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. FTB Advisors Inc. increased its position 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 valued at $113,000 after buying an additional 213 shares during the period. Finally, Farmers National Bank bought a new position in shares of Phillips 66 during the first quarter valued at approximately $113,000. Institutional investors own 69.78% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded up 0.01% during mid-day trading on Tuesday, reaching $85.08. The company had a trading volume of 680,673 shares. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The company has a market cap of $43.52 billion, a price-to-earnings ratio of 25.44 and a beta of 1.22. The firm’s 50-day moving average price is $81.91 and its 200 day moving average price is $79.67.
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 consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities analysts expect that Phillips 66 will post $4.09 EPS for the current year.
The company 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. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.29%. Phillips 66’s payout ratio is currently 83.58%.
PSX has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $87.00 price target on shares of Phillips 66 in a report on Thursday, April 20th. Piper Jaffray Companies reissued an “overweight” rating and issued a $88.00 price objective on shares of Phillips 66 in a research report on Thursday, May 25th. Scotiabank set a $86.00 price objective on Phillips 66 and gave the company a “hold” rating in a research report on Monday, May 1st. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Two 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 assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $83.53.
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 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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