Modera Wealth Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 35.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,219 shares of the oil and gas company’s stock after selling 1,200 shares during the quarter. Modera Wealth Management LLC’s holdings in Phillips 66 were worth $208,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Advisors Preferred LLC bought a new position in Phillips 66 in the second quarter worth $25,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the second quarter worth $26,000. Harvest Group Wealth Management LLC bought a new position in Phillips 66 in the first quarter worth $31,000. Manchester Financial Inc. purchased a new stake in shares of Phillips 66 in the second quarter worth $32,000. Finally, Coastal Capital Group Inc. purchased a new stake in shares of Phillips 66 in the second quarter worth $37,000. Institutional investors and hedge funds own 70.37% of the company’s stock.
Shares of NYSE PSX traded down $3.28 during trading on Friday, reaching $95.18. The company had a trading volume of 2,253,205 shares, compared to its average volume of 2,208,428. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $121.54. The stock has a market cap of $44.16 billion, a PE ratio of 8.13, a P/E/G ratio of 1.93 and a beta of 1.10. The business’s 50-day moving average is $99.89 and its 200 day moving average is $94.23.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The company had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. During the same period last year, the firm posted $2.80 earnings per share. On average, analysts anticipate that Phillips 66 will post 7.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 annualized dividend and a dividend yield of 3.78%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
In other Phillips 66 news, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $82.91 per share, with a total value of $165,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.
A number of equities research analysts have recently commented on PSX shares. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Cowen increased their target price on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Morgan Stanley cut their target price on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Friday, May 17th. Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $117.64.
Phillips 66 Company 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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