Quantitative Systematic Strategies LLC Reduces Stake in Phillips 66 (PSX)
Quantitative Systematic Strategies LLC cut its position in Phillips 66 (NYSE:PSX) by 6.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,696 shares of the oil and gas company’s stock after selling 568 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Phillips 66 were worth $630,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its stake in Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares in the last quarter. 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. Finally, Farmers National Bank bought a new stake in shares of Phillips 66 during the first quarter worth approximately $113,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
Shares of Phillips 66 (NYSE PSX) traded down 0.9097% on Thursday, hitting $83.7214. The company’s stock had a trading volume of 677,300 shares. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The stock’s 50 day moving average is $82.83 and its 200-day moving average is $79.81. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 25.0363 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 1.87% and a return on equity of 6.29%. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post $4.03 earnings per share for the current 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
A number of equities research analysts have commented on the company. Barclays PLC reiterated an “equal weight” rating and set a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Scotiabank set a $86.00 target price on Phillips 66 and gave the company a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Two research 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. The stock has an average rating of “Hold” and an average target price 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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