Phillips 66 (PSX) Shares Sold by Logan Capital Management Inc.
Logan Capital Management Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,067 shares of the oil and gas company’s stock after selling 347 shares during the period. Logan Capital Management Inc.’s holdings in Phillips 66 were worth $1,273,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Alpha Windward LLC raised its position in shares of Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 9 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 11 shares in the last quarter. Northwest Quadrant Wealth Management LLC raised its position in shares of Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 18 shares in the last quarter. Argent Trust Co raised its position in shares of Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 27 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.09% during midday trading on Tuesday, hitting $84.99. The stock had a trading volume of 325,451 shares. 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 is $81.91 and its 200 day moving average is $79.67. The firm has a market cap of $43.47 billion, a P/E ratio of 25.42 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for 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 previous year, the firm earned $0.94 earnings per share. On average, equities analysts predict that Phillips 66 will post $4.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. Phillips 66’s payout ratio is 83.58%.
Several brokerages recently issued reports on PSX. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Scotiabank reiterated a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. 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 company. Phillips 66 presently 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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