Fernwood Investment Management LLC boosted its position in Phillips 66 (NYSE:PSX) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,008 shares of the oil and gas company’s stock after buying an additional 100 shares during the period. Phillips 66 makes up approximately 1.2% of Fernwood Investment Management LLC’s portfolio, making the stock its 21st biggest position. Fernwood Investment Management LLC’s holdings in Phillips 66 were worth $1,654,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Guardian Life Insurance Co. of America increased its position in Phillips 66 by 0.6% in the 1st 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. Joel Isaacson & Co. LLC increased its holdings in Phillips 66 by 0.4% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 14 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its holdings in Phillips 66 by 0.6% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 18 shares in the last quarter. CWM LLC increased its holdings in Phillips 66 by 0.6% during the 2nd quarter. CWM LLC now owns 3,584 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 23 shares in the last quarter. Finally, Argent Trust Co increased its holdings in Phillips 66 by 0.8% during the 1st quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 27 shares in the last quarter. 69.53% of the stock is owned by institutional investors and hedge funds.

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Phillips 66 (PSX) opened at 87.67 on Monday. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The stock has a 50 day moving average price of $84.14 and a 200 day moving average price of $80.45. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 26.23 and a beta of 1.20.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.94 earnings per share. On average, analysts expect that Phillips 66 will post $4.20 EPS for the current year.

The company 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. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.

A number of analysts have commented on the company. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Scotiabank reissued a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a report on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a report on Tuesday, September 5th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $88.00 price objective on shares of Phillips 66 in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $83.93.

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

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