Moller Financial Services Trims Position in Phillips 66 (NYSE:PSX)
Moller Financial Services cut its holdings in shares of Phillips 66 (NYSE:PSX) by 50.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,368 shares of the oil and gas company’s stock after selling 2,368 shares during the quarter. Moller Financial Services’ holdings in Phillips 66 were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Opus Investment Management Inc. purchased a new position in Phillips 66 during the 1st quarter worth approximately $446,000. Boston Partners increased its holdings in shares of Phillips 66 by 6.8% during the 1st quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock valued at $72,929,000 after purchasing an additional 48,968 shares in the last quarter. Rothschild Investment Corp IL increased its holdings in shares of Phillips 66 by 3.6% during the 2nd quarter. Rothschild Investment Corp IL now owns 29,163 shares of the oil and gas company’s stock valued at $2,728,000 after purchasing an additional 1,025 shares in the last quarter. O Keefe Stevens Advisory Inc. increased its holdings in shares of Phillips 66 by 6.0% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 25,361 shares of the oil and gas company’s stock valued at $2,372,000 after purchasing an additional 1,441 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC increased its holdings in shares of Phillips 66 by 8.3% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 59,068 shares of the oil and gas company’s stock valued at $5,622,000 after purchasing an additional 4,503 shares in the last quarter. 70.14% of the stock is owned by institutional investors.
Several research firms have recently weighed in on PSX. Bank of America reaffirmed a “buy” rating and set a $420.00 target price (up from $400.00) on shares of Lendingtree in a report on Monday, April 29th. Citigroup lifted their target price on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the company a “buy” rating in a report on Friday, June 21st. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Cowen set a $1,500.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group began coverage on shares of Pinduoduo in a report on Monday, April 15th. They set a “buy” rating and a $30.00 target price for the company. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Phillips 66 currently has an average rating of “Buy” and a consensus price target of $118.17.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.88%. During the same quarter in the previous year, the firm earned $2.80 EPS. As a group, equities research analysts predict that Phillips 66 will post 7.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s payout ratio is presently 30.74%.
In related news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $82.91 per share, with a total value of $165,820.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.
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; 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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