OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Phillips 66 (NYSE:PSX) by 24.7% during the first quarter, Holdings Channel reports. The institutional investor owned 24,250 shares of the oil and gas company’s stock after buying an additional 4,800 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Phillips 66 were worth $1,921,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Winch Advisory Services LLC raised its position in 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 valued at $104,000 after buying an additional 1,292 shares in the last quarter. Westside Investment Management Inc. raised its position in 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 valued at $110,000 after buying an additional 1,000 shares in the last quarter. FTB Advisors Inc. raised its position 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 raised its position 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 raised its position 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. 69.78% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 (NYSE 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 cap of $42.68 billion, a PE ratio of 24.95 and a beta of 1.22. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87. The company has a 50-day moving average of $83.10 and a 200-day moving average of $79.85.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. During the same period last year, the business posted $0.94 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post $4.05 earnings per share for the current 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 paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.

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A number of equities analysts have weighed in on PSX shares. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. US Capital Advisors reissued a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and issued a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Finally, Scotiabank reissued a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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