Pittenger & Anderson Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,799 shares of the oil and gas company’s stock after selling 750 shares during the period. Pittenger & Anderson Inc.’s holdings in Phillips 66 were worth $5,818,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PSX. BlackRock Inc. boosted its holdings in Phillips 66 by 8.1% during the second quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock worth $3,273,487,000 after buying an additional 2,194,280 shares in the last quarter. FMR LLC boosted its holdings in Phillips 66 by 9.0% during the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after buying an additional 1,188,567 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Phillips 66 by 11,191.1% during the second quarter. Cornerstone Wealth Management LLC now owns 887,030 shares of the oil and gas company’s stock worth $8,019,000 after buying an additional 879,174 shares in the last quarter. American Century Companies Inc. bought a new stake in Phillips 66 during the second quarter worth approximately $89,215,000. Finally, Bahl & Gaynor Inc. boosted its holdings in Phillips 66 by 1,141.7% during the first quarter. Bahl & Gaynor Inc. now owns 491,923 shares of the oil and gas company’s stock worth $47,185,000 after buying an additional 452,306 shares in the last quarter. Hedge funds and other institutional investors own 69.47% of the company’s stock.

PSX stock opened at $118.37 on Friday. Phillips 66 has a 12-month low of $89.14 and a 12-month high of $123.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.69 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 27th. The oil and gas company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.64. Phillips 66 had a net margin of 5.34% and a return on equity of 12.87%. The company had revenue of $29.74 billion during the quarter, compared to the consensus estimate of $29.40 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, research analysts expect that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.70%. Phillips 66’s payout ratio is 73.06%.

A number of brokerages recently weighed in on PSX. Citigroup raised their target price on shares of Phillips 66 from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, September 7th. Mizuho started coverage on shares of Phillips 66 in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price objective for the company. ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Finally, Morgan Stanley raised their price objective on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.84.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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