IBM Retirement Fund Acquires 5,639 Shares of Phillips 66 (PSX)
IBM Retirement Fund raised its position in shares of Phillips 66 (NYSE:PSX) by 112.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,667 shares of the oil and gas company’s stock after buying an additional 5,639 shares during the period. IBM Retirement Fund’s holdings in Phillips 66 were worth $985,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Bank of The Ozarks raised 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. BB&T Corp raised 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. Shell Asset Management Co. raised 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. LS Investment Advisors LLC raised its position in shares of Phillips 66 by 5.2% in the first quarter. LS Investment Advisors LLC now owns 19,609 shares of the oil and gas company’s stock worth $1,553,000 after buying an additional 970 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Phillips 66 by 205.1% in the first quarter. Quantbot Technologies LP now owns 39,140 shares of the oil and gas company’s stock worth $3,100,000 after buying an additional 26,310 shares during the period. Institutional investors own 69.56% of the company’s stock.
Shares of Phillips 66 (NYSE PSX) opened at 83.50 on Wednesday. The stock has a market cap of $42.71 billion, a P/E ratio of 24.97 and a beta of 1.22. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The company’s 50-day moving average is $83.34 and its 200-day moving average is $79.89.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The firm 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 business posted $0.94 EPS. On average, analysts expect that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.35%. Phillips 66’s dividend payout ratio is currently 83.58%.
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A number of research analysts have recently issued reports on the stock. Barclays PLC reiterated an “equal weight” rating and set a $89.00 price target (up from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Tuesday, August 1st. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $84.00 price target on shares of Phillips 66 in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.53.
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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