Alpha Omega Wealth Management LLC Acquires 1,558 Shares of Phillips 66 (PSX)
Alpha Omega Wealth Management LLC grew its holdings in Phillips 66 (NYSE:PSX) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,430 shares of the oil and gas company’s stock after buying an additional 1,558 shares during the period. Phillips 66 makes up 1.5% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Alpha Omega Wealth Management LLC’s holdings in Phillips 66 were worth $2,930,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of PSX. Jacobi Capital Management LLC grew its stake in shares of Phillips 66 by 27.4% in the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Phillips 66 by 17.3% in the 1st quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares in the last quarter. Farmers National Bank purchased a new position in shares of Phillips 66 in the 1st quarter worth $113,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter worth $116,000. 69.53% of the stock is owned by institutional investors and hedge funds.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.
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Shares of Phillips 66 (NYSE:PSX) opened at 91.01 on Tuesday. The company has a market cap of $46.55 billion, a price-to-earnings ratio of 27.23 and a beta of 1.20. The company’s 50-day moving average is $84.43 and its 200-day moving average is $80.63. Phillips 66 has a one year low of $75.14 and a one year high of $91.50.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to analyst estimates 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 posted $0.94 earnings per share. On average, equities analysts predict that Phillips 66 will post $4.26 EPS for the current year.
The business also recently announced 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. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is presently 83.58%.
A number of brokerages have commented on PSX. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Barclays PLC reissued an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. BidaskClub lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Scotiabank set a $86.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Finally, TheStreet lowered shares of Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $83.93.
About Phillips 66
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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