Montag A & Associates Inc. Has $374,000 Holdings in Phillips 66 (PSX)
Montag A & Associates Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,520 shares of the oil and gas company’s stock after purchasing an additional 2 shares during the period. Montag A & Associates Inc.’s holdings in Phillips 66 were worth $374,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in PSX. BlackRock Inc. increased its stake in Phillips 66 by 2,329.3% in the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after purchasing an additional 26,676,647 shares during the period. OppenheimerFunds Inc. increased its stake in Phillips 66 by 599.8% in the 1st quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after purchasing an additional 3,943,299 shares during the period. Clearbridge Investments LLC increased its stake in Phillips 66 by 4,771.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after purchasing an additional 1,396,918 shares during the period. New England Asset Management Inc. purchased a new position in Phillips 66 in the 1st quarter worth approximately $104,095,000. Finally, State Street Corp increased its stake in Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after purchasing an additional 921,895 shares during the period. 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 Phillips 66 stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.
A number of equities analysts have commented on the company. Jefferies Group LLC set a $74.00 price target on Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Barclays PLC reaffirmed an “equal weight” rating and issued a $89.00 price target (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Scotiabank set a $86.00 price target on Phillips 66 and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Finally, TheStreet cut Phillips 66 from a “b-” rating to a “c” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.93.
Phillips 66 (NYSE:PSX) opened at 89.14 on Friday. The stock has a market capitalization of $45.60 billion, a PE ratio of 26.67 and a beta of 1.20. The stock’s 50 day moving average price is $84.43 and its 200 day moving average price is $80.63. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $89.71.
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 (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same period last year, the business posted $0.94 EPS. On average, equities research analysts predict 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. Stockholders of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. Phillips 66’s dividend payout ratio is presently 83.58%.
Phillips 66 Company 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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