Greylin Investment Mangement Inc. Purchases 4,035 Shares of Phillips 66 (PSX)
Greylin Investment Mangement Inc. boosted its position in shares of Phillips 66 (NYSE:PSX) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,785 shares of the oil and gas company’s stock after buying an additional 4,035 shares during the period. Phillips 66 comprises 1.4% of Greylin Investment Mangement Inc.’s holdings, making the stock its 14th largest position. Greylin Investment Mangement Inc.’s holdings in Phillips 66 were worth $5,936,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Winslow Evans & Crocker Inc. increased its position in shares of Phillips 66 by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,616 shares of the oil and gas company’s stock worth $366,000 after buying an additional 236 shares during the period. Bank of The Ozarks increased its position in shares of Phillips 66 by 7.0% in the first quarter. Bank of The Ozarks now owns 8,836 shares of the oil and gas company’s stock worth $700,000 after buying an additional 575 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of Phillips 66 by 14.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 141,328 shares of the oil and gas company’s stock worth $11,197,000 after buying an additional 17,409 shares during the period. BB&T Corp increased its position in shares of Phillips 66 by 29.2% in the first quarter. BB&T Corp now owns 64,177 shares of the oil and gas company’s stock worth $5,083,000 after buying an additional 14,515 shares during the period. Finally, Shell Asset Management Co. increased its position in shares of Phillips 66 by 3.0% in the first quarter. Shell Asset Management Co. now owns 45,458 shares of the oil and gas company’s stock worth $3,601,000 after buying an additional 1,316 shares during the period. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Phillips 66 (PSX) traded down 0.04% during trading on Wednesday, hitting $82.95. The company had a trading volume of 721,161 shares. The stock has a market capitalization of $42.43 billion, a PE ratio of 24.81 and a beta of 1.22. Phillips 66 has a one year low of $75.14 and a one year high of $88.87. The stock has a 50-day moving average of $83.30 and a 200-day moving average of $79.78.
Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same quarter last year, the firm earned $0.94 EPS. On average, equities analysts anticipate that Phillips 66 will post $4.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio is currently 83.58%.
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PSX has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $87.00 price target on shares of Phillips 66 in a research report on Thursday, April 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $88.00 price target on shares of Phillips 66 in a research report on Thursday, May 25th. Scotiabank set a $86.00 price target on Phillips 66 and gave the stock a “hold” rating in a research report on Monday, May 1st. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.53.
About Phillips 66
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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