BB&T Securities LLC Has $13.82 Million Stake in Phillips 66 (PSX)
BB&T Securities LLC grew its position in Phillips 66 (NYSE:PSX) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,120 shares of the oil and gas company’s stock after acquiring an additional 15,404 shares during the period. BB&T Securities LLC’s holdings in Phillips 66 were worth $13,819,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of PSX. BlackRock Inc. boosted its holdings in shares of 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 in the last quarter. OppenheimerFunds Inc. boosted its holdings in Phillips 66 by 599.8% during the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after buying an additional 3,943,299 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Phillips 66 by 4,771.9% during the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after buying an additional 1,396,918 shares in the last quarter. New England Asset Management Inc. purchased a new stake in Phillips 66 during the first quarter worth about $104,095,000. Finally, State Street Corp boosted its holdings in Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares in the last quarter. 69.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.
A number of analysts recently commented on the stock. Barclays PLC reissued an “equal weight” rating and set a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. 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. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $83.93.
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Phillips 66 (NYSE:PSX) opened at 89.07 on Thursday. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $89.51. The firm has a market cap of $45.56 billion, a PE ratio of 26.65 and a beta of 1.20. The firm’s 50-day moving average is $84.43 and its 200-day moving average is $80.63.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $25.14 billion. During the same quarter last year, the firm posted $0.94 EPS. Equities analysts expect that Phillips 66 will post $4.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders 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 dividend yield of 3.14%. Phillips 66’s dividend payout ratio (DPR) is 83.58%.
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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