Cypress Capital Group Has $3.73 Million Position in Phillips 66 (PSX)
Cypress Capital Group decreased its position in shares of Phillips 66 (NYSE:PSX) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,113 shares of the oil and gas company’s stock after selling 7,700 shares during the period. Cypress Capital Group’s holdings in Phillips 66 were worth $3,732,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in shares of Phillips 66 by 60.9% in the fourth quarter. Macquarie Group Ltd. now owns 22,600 shares of the oil and gas company’s stock valued at $1,953,000 after buying an additional 8,550 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Phillips 66 by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 145,565 shares of the oil and gas company’s stock valued at $11,531,000 after buying an additional 1,725 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Phillips 66 by 12.9% in the first quarter. Koshinski Asset Management Inc. now owns 2,640 shares of the oil and gas company’s stock valued at $209,000 after buying an additional 301 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 61 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its stake in shares of Phillips 66 by 4.9% in the first quarter. LVM Capital Management Ltd. MI now owns 4,301 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.
Phillips 66 (PSX) traded down 0.5306% during mid-day trading on Thursday, hitting $84.0417. The stock had a trading volume of 411,264 shares. The stock has a 50 day moving average of $82.83 and a 200-day moving average of $79.81. The firm has a market cap of $42.99 billion, a P/E ratio of 25.1321 and a beta of 1.22. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company earned $0.94 EPS. Analysts predict that Phillips 66 will post $4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Phillips 66’s payout ratio is 83.58%.
Several analysts have weighed in on the company. Barclays PLC reaffirmed an “equal weight” rating and set a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Scotiabank set a $86.00 target price on Phillips 66 and gave the company a “hold” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and an average 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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