Financial Architects Inc Reduces Stake in Phillips 66 (PSX)
Financial Architects Inc lowered its position in Phillips 66 (NYSE:PSX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,373 shares of the oil and gas company’s stock after selling 8 shares during the period. Financial Architects Inc’s holdings in Phillips 66 were worth $197,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Alpha Windward LLC boosted its stake 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 worth $240,000 after buying an additional 9 shares during the period. TNB Financial acquired a new stake in shares of Phillips 66 during the first quarter worth $286,000. Capstone Asset Management Co. boosted its stake in shares of Phillips 66 by 9.6% in the first quarter. Capstone Asset Management Co. now owns 178,119 shares of the oil and gas company’s stock worth $14,111,000 after buying an additional 15,577 shares during the period. Gradient Investments LLC boosted its stake in shares of Phillips 66 by 55,124.8% in the first quarter. Gradient Investments LLC now owns 75,658 shares of the oil and gas company’s stock worth $5,994,000 after buying an additional 75,521 shares during the period. Finally, E&G Advisors LP acquired a new stake in shares of Phillips 66 during the first quarter worth $364,000. 69.78% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE PSX) traded down 0.26% during trading on Wednesday, reaching $84.80. 1,059,463 shares of the company’s stock were exchanged. The company has a market capitalization of $43.38 billion, a PE ratio of 25.36 and a beta of 1.22. The company’s 50-day moving average is $82.46 and its 200-day moving average is $79.81. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87.
Phillips 66 (NYSE:PSX) last issued its 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. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same period in the previous year, the business earned $0.94 EPS. Equities research analysts expect that Phillips 66 will post $4.03 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 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s dividend payout ratio is currently 83.58%.
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A number of analysts recently weighed in on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $89.00 price target (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price 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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