Oppenheimer Asset Management Inc. purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 79,175 shares of the oil and gas company’s stock, valued at approximately $6,272,000.

Several other institutional investors also recently made changes to their positions in the stock. Winch Advisory Services LLC boosted its stake 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 worth $104,000 after buying an additional 1,292 shares during the period. Westside Investment Management Inc. boosted its stake 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 worth $110,000 after buying an additional 1,000 shares during the period. FTB Advisors Inc. boosted its stake 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 worth $113,000 after buying an additional 213 shares during the period. Guardian Life Insurance Co. of America boosted its stake 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 worth $135,000 after buying an additional 11 shares during the period. Finally, Barrett Asset Management LLC boosted its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares during the period. Institutional investors own 69.78% of the company’s stock.

Phillips 66 (NYSE PSX) traded down 0.54% during midday trading on Wednesday, hitting $84.56. 654,247 shares of the stock were exchanged. The company has a market cap of $43.25 billion, a PE ratio of 25.29 and a beta of 1.22. The firm’s 50 day moving average price is $82.46 and its 200 day moving average price is $79.81. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, equities research analysts forecast that Phillips 66 will post $4.03 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.

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A number of equities research analysts have weighed in on PSX shares. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. restated a “neutral” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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