Phillips 66 (PSX) Holdings Lifted by OLD Republic International Corp
OLD Republic International Corp raised its holdings in Phillips 66 (NYSE:PSX) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,000 shares of the oil and gas company’s stock after acquiring an additional 32,500 shares during the period. OLD Republic International Corp owned about 0.08% of Phillips 66 worth $32,414,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PSX. BlackRock Inc. grew its position in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after acquiring an additional 26,676,647 shares during the last quarter. OppenheimerFunds Inc. grew its position in Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after acquiring an additional 3,943,299 shares during the last quarter. Clearbridge Investments LLC grew its position in Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after acquiring an additional 1,396,918 shares during the last quarter. New England Asset Management Inc. bought a new position in Phillips 66 in the first quarter valued at about $104,095,000. Finally, State Street Corp grew its position in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 87.67 on Friday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 26.23 and a beta of 1.20. The company has a 50 day moving average price of $84.14 and a 200-day moving average price of $80.45.
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 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 in the prior year, the company earned $0.94 EPS. On average, analysts forecast that Phillips 66 will post $4.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.19%. Phillips 66’s payout ratio is 83.58%.
Several analysts have recently weighed in on PSX shares. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies restated an “overweight” rating and set a $88.00 price target on shares of Phillips 66 in a report on Thursday, May 25th. Jefferies Group LLC set a $74.00 price target on Phillips 66 and gave the stock a “hold” rating in a report on Saturday, June 3rd. TheStreet cut Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. Finally, BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Phillips 66 has a consensus rating of “Hold” and an average target price of $83.93.
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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