Broderick Brian C Maintains Position in Phillips 66 (PSX)
Broderick Brian C maintained its stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, Holdings Channel reports. The fund owned 4,679 shares of the oil and gas company’s stock at the end of the first quarter. Broderick Brian C’s holdings in Phillips 66 were worth $371,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Alpha Windward LLC increased 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 valued at $240,000 after buying an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America increased 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 valued at $135,000 after buying an additional 11 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its stake in shares of 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 during the last quarter. Argent Trust Co increased its stake in shares of 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 during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of 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 during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 (PSX) traded down 0.24% during midday trading on Friday, hitting $83.44. 1,858,217 shares of the stock traded hands. The stock has a market capitalization of $42.68 billion, a P/E ratio of 24.95 and a beta of 1.22. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. 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 earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company 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 company earned $0.94 EPS. On average, equities analysts predict that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.36%. Phillips 66’s payout ratio is presently 83.58%.
Several brokerages have commented on PSX. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a research note on Saturday, June 3rd. Scotiabank reaffirmed a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research note on Tuesday, June 27th. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target 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.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.