Schwab Charles Investment Management Inc. Boosts Position in Phillips 66 (PSX)
Schwab Charles Investment Management Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,791,699 shares of the oil and gas company’s stock after buying an additional 78,821 shares during the period. Schwab Charles Investment Management Inc. owned 0.35% of Phillips 66 worth $141,939,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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 last quarter. BlackRock Inc. boosted its stake in shares of 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of 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 last quarter. Wells Fargo & Company MN boosted its stake in shares of Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock valued at $661,561,000 after buying an additional 205,952 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
Phillips 66 (PSX) traded down 0.33% on Tuesday, hitting $84.79. The stock had a trading volume of 244,726 shares. The stock has a 50 day moving average price of $81.91 and a 200 day moving average price of $79.67. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The company has a market cap of $43.37 billion, a P/E ratio of 25.36 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate 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 business earned $0.94 EPS. On average, equities research analysts expect that Phillips 66 will post $4.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. Phillips 66’s payout ratio is currently 83.58%.
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PSX has been the subject of several recent analyst reports. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank reaffirmed a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 target price on shares of Phillips 66 in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock 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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