Wilkins Investment Counsel Inc. Has $765,000 Position in Phillips 66 (PSX)
Wilkins Investment Counsel Inc. continued to hold its stake in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,644 shares of the company’s stock at the end of the second quarter. Wilkins Investment Counsel Inc.’s holdings in Phillips 66 were worth $765,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Phillips 66 by 1.5% in the first quarter. State Street Corp now owns 23,555,046 shares of the company’s stock worth $2,039,627,000 after buying an additional 358,052 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Phillips 66 by 3.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,562,698 shares of the company’s stock valued at $1,155,404,000 after buying an additional 459,964 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. Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,145,924 shares of the company’s stock valued at $408,293,000 after buying an additional 91,054 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Phillips 66 by 3.1% in the first quarter. Legal & General Group Plc now owns 2,620,091 shares of the company’s stock valued at $226,871,000 after buying an additional 78,072 shares during the period. 69.98% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (NYSE:PSX) opened at 80.07 on Thursday. The company’s 50-day moving average price is $78.45 and its 200-day moving average price is $80.69. The stock has a market cap of $41.86 billion, a P/E ratio of 13.86 and a beta of 1.38. Phillips 66 has a one year low of $71.74 and a one year high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ 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 period last year, the firm posted $1.83 earnings per share. Analysts forecast that Phillips 66 will post $3.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 3.15%. Phillips 66’s payout ratio is presently 43.83%.
PSX has been the subject of several recent research reports. Jefferies Group initiated coverage on Phillips 66 in a research report on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price target for the company. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $105.00 to $90.00 in a research report on Friday, June 17th. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Wells Fargo & Co. cut Phillips 66 from an “outperform” rating to a “market perform” rating in a research report on Friday, July 8th. Finally, Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.42 price target for the company. in a research report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $85.52.
In other news, major shareholder Berkshire Hathaway Inc acquired 290,116 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was purchased at an average price of $77.04 per share, for a total transaction of $22,350,536.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paula Ann Johnson sold 40,141 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $79.57, for a total value of $3,194,019.37. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
About Phillips 66
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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