iAB Financial Bank Acquires 540 Shares of Phillips 66 (PSX)
iAB Financial Bank grew its holdings in Phillips 66 (NYSE:PSX) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,966 shares of the oil and gas company’s stock after buying an additional 540 shares during the quarter. iAB Financial Bank’s holdings in Phillips 66 were worth $907,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in PSX. Waldron LP raised its stake in shares of Phillips 66 by 14.5% in the 1st quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 399 shares in the last quarter. Alpha Omega Wealth Management LLC raised its stake in shares of Phillips 66 by 1.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 33,872 shares of the oil and gas company’s stock valued at $2,683,000 after buying an additional 429 shares in the last quarter. Geneva Advisors LLC raised its stake in shares of Phillips 66 by 2.4% in the 1st quarter. Geneva Advisors LLC now owns 9,443 shares of the oil and gas company’s stock valued at $748,000 after buying an additional 219 shares in the last quarter. Private Capital Management Inc. raised its stake in shares of Phillips 66 by 55.6% in the 1st quarter. Private Capital Management Inc. now owns 7,700 shares of the oil and gas company’s stock valued at $610,000 after buying an additional 2,750 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Phillips 66 by 2.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 631,933 shares of the oil and gas company’s stock valued at $50,033,000 after buying an additional 13,063 shares in the last quarter. Institutional investors own 69.53% of the company’s stock.
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Shares of Phillips 66 (NYSE PSX) opened at 89.14 on Friday. The stock has a 50 day moving average of $84.43 and a 200 day moving average of $80.63. The company has a market cap of $45.60 billion, a price-to-earnings ratio of 26.67 and a beta of 1.20. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $89.71.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, equities analysts expect that Phillips 66 will post $4.26 earnings per share 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 paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
PSX has been the subject of a number of recent research reports. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research note on Friday, July 14th. Barclays PLC restated an “equal weight” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Scotiabank restated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $78.00 price objective on shares of Phillips 66 in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average target price of $83.93.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.
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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