Old Mutual Global Investors UK Ltd. Acquires Shares of 2,838 Phillips 66 (PSX)
Old Mutual Global Investors UK Ltd. acquired a new stake in Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The institutional investor acquired 2,838 shares of the company’s stock, valued at approximately $225,000.
Several other large investors also recently made changes to their positions in PSX. Credit Agricole S A boosted its position in shares of Phillips 66 by 39.2% in the first quarter. Credit Agricole S A now owns 1,286,433 shares of the company’s stock valued at $111,393,000 after buying an additional 362,468 shares during the period. State Street Corp boosted its position in shares of Phillips 66 by 1.5% in the first quarter. State Street Corp now owns 23,555,046 shares of the company’s stock valued at $2,039,627,000 after buying an additional 358,052 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Phillips 66 by 263.9% in the first quarter. Glenmede Trust Co. NA now owns 362,955 shares of the company’s stock valued at $31,427,000 after buying an additional 263,218 shares during the period. BlackRock Group LTD boosted its position in shares of Phillips 66 by 5.1% in the first quarter. BlackRock Group LTD now owns 5,211,834 shares of the company’s stock valued at $451,292,000 after buying an additional 252,187 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Phillips 66 by 109.8% in the second quarter. BNP Paribas Arbitrage SA now owns 240,047 shares of the company’s stock valued at $19,045,000 after buying an additional 125,632 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.01% during mid-day trading on Friday, reaching $79.09. The company had a trading volume of 7,599,569 shares. The company has a market cap of $41.35 billion, a price-to-earnings ratio of 13.69 and a beta of 1.38. The firm’s 50-day moving average price is $77.86 and its 200 day moving average price is $80.87. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same quarter last year, the company posted $1.83 EPS. Equities analysts expect that Phillips 66 will post $3.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Tuesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is currently 43.83%.
PSX has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $80.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $105.00 to $90.00 in a research report on Friday, June 17th. Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 target price for the company. in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Finally, Zacks Investment Research cut Phillips 66 from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $85.52.
In related news, VP Paula Ann Johnson sold 40,141 shares of the company’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total transaction of $3,194,019.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average price of $77.21 per share, with a total value of $78,752,192.54. The disclosure for this purchase can be found here. Insiders own 0.05% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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