GAM Holding AG Has $14,501,000 Position in Phillips 66 (PSX)
GAM Holding AG continued to hold its position in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,360 shares of the oil and gas company’s stock at the end of the second quarter. GAM Holding AG’s holdings in Phillips 66 were worth $14,501,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC boosted its position in Phillips 66 by 27.4% during the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares during the period. Winch Advisory Services LLC boosted its position in Phillips 66 by 5,872.7% during the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the period. Meeder Asset Management Inc. purchased a new stake in Phillips 66 during the second quarter valued at about $116,000. Farmers National Bank purchased a new stake in Phillips 66 during the first quarter valued at about $113,000. Finally, Westside Investment Management Inc. boosted its position in Phillips 66 by 239.2% during the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. 69.53% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts have commented on PSX shares. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $83.93.
Shares of Phillips 66 (PSX) opened at 89.89 on Friday. The company has a market cap of $45.98 billion, a P/E ratio of 26.90 and a beta of 1.20. The firm has a 50-day moving average of $84.43 and a 200-day moving average of $80.63. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $90.10.
Phillips 66 (NYSE:PSX) last issued 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 net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same quarter in the prior year, the business posted $0.94 EPS. Equities research analysts forecast that Phillips 66 will post $4.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Phillips 66’s payout ratio is 83.58%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.
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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