AMG National Trust Bank Trims Holdings in Phillips 66 (PSX)
AMG National Trust Bank lowered its position in Phillips 66 (NYSE:PSX) by 48.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,380 shares of the oil and gas company’s stock after selling 8,826 shares during the quarter. AMG National Trust Bank’s holdings in Phillips 66 were worth $776,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PSX. BlackRock Inc. lifted its position in shares of Phillips 66 by 2,329.3% in the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after acquiring an additional 26,676,647 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Phillips 66 by 599.8% in the 1st quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock worth $364,472,000 after acquiring an additional 3,943,299 shares during the period. Clearbridge Investments LLC lifted its position in shares of Phillips 66 by 4,771.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock worth $112,983,000 after acquiring an additional 1,396,918 shares during the period. New England Asset Management Inc. bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $104,095,000. Finally, State Street Corp lifted its position in shares of Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after acquiring an additional 921,895 shares during the period. Institutional investors own 69.54% of the company’s stock.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.
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Phillips 66 (NYSE:PSX) opened at 93.33 on Friday. The company has a market cap of $47.74 billion, a P/E ratio of 27.93 and a beta of 1.19. The company’s 50 day moving average price is $86.79 and its 200 day moving average price is $81.71. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $94.69.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period in the previous year, the company posted $0.94 earnings per share. Equities research analysts anticipate that Phillips 66 will post $4.33 EPS for the current fiscal year.
A number of analysts have commented on PSX shares. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) upgraded Phillips 66 from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $109.00 in a research report on Tuesday. Barclays PLC reiterated an “equal weight” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Finally, Scotiabank reiterated a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $89.30.
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 through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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