Welch Group LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 71.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,488 shares of the oil and gas company’s stock after selling 3,774 shares during the period. Welch Group LLC’s holdings in Phillips 66 were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Webster Bank N. A. raised its position in Phillips 66 by 64.2% during the 2nd quarter. Webster Bank N. A. now owns 895 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 350 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in Phillips 66 by 33.0% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 4,862 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 1,206 shares in the last quarter. RPG Investment Advisory LLC raised its position in Phillips 66 by 145.3% during the 2nd quarter. RPG Investment Advisory LLC now owns 1,575 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 933 shares in the last quarter. PFS Investments Inc. raised its position in Phillips 66 by 115.1% during the 2nd quarter. PFS Investments Inc. now owns 21,614 shares of the oil and gas company’s stock valued at $2,092,000 after purchasing an additional 11,566 shares in the last quarter. Finally, BKD Wealth Advisors LLC raised its position in Phillips 66 by 3.2% during the 2nd quarter. BKD Wealth Advisors LLC now owns 4,461 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 138 shares in the last quarter. 69.97% of the stock is owned by institutional investors and hedge funds.

PSX stock traded up $0.75 on Friday, hitting $102.32. 2,267,327 shares of the company’s stock were exchanged, compared to its average volume of 2,585,160. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $123.97. The stock’s 50 day simple moving average is $94.20. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $46.41 billion, a PE ratio of 8.74, a P/E/G ratio of 2.10 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The firm had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. During the same period in the previous year, the business earned $2.80 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 7.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.52%. Phillips 66’s dividend payout ratio (DPR) is 30.74%.

A number of equities research analysts have weighed in on the company. Raymond James lowered First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Cowen lifted their price target on Expedia Group from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday. Bank of America reiterated a “buy” rating and issued a $420.00 price target (up from $400.00) on shares of Lendingtree in a report on Monday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Finally, Jefferies Financial Group began coverage on Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 price target on the stock. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $117.58.

In other Phillips 66 news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $82.91 per share, for a total transaction of $165,820.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Phillips 66 Profile

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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; 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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