Baker Avenue Asset Management LP Boosts Position in Phillips 66 (NYSE:PSX)
Baker Avenue Asset Management LP boosted its stake in shares of Phillips 66 (NYSE:PSX) by 10.4% during the first quarter, Holdings Channel reports. The institutional investor owned 6,958 shares of the oil and gas company’s stock after buying an additional 657 shares during the period. Baker Avenue Asset Management LP’s holdings in Phillips 66 were worth $551,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PSX. Alpha Windward LLC increased its position in 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 valued at $240,000 after buying an additional 9 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in 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 valued at $135,000 after buying an additional 11 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its position in Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 18 shares in the last quarter. Argent Trust Co increased its position in Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 27 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
Shares of Phillips 66 (PSX) traded down 0.24% during trading on Friday, hitting $83.44. The stock had a trading volume of 1,858,217 shares. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The company has a market capitalization of $42.68 billion, a PE ratio of 24.95 and a beta of 1.22. The firm has a 50-day moving average price of $83.10 and a 200 day moving average price of $79.85.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $24.58 billion during 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 quarter in the prior year, the company posted $0.94 EPS. Equities analysts anticipate that Phillips 66 will post $4.05 earnings per share for the current year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
Several research firms have commented on PSX. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Scotiabank reiterated a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research report on Tuesday, June 27th. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $89.00 target price (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock 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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