Jacobi Capital Management LLC Purchases 277 Shares of Phillips 66 (PSX)
Jacobi Capital Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 27.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,288 shares of the oil and gas company’s stock after buying an additional 277 shares during the period. Jacobi Capital Management LLC’s holdings in Phillips 66 were worth $100,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of PSX. HM Payson & Co. increased its stake in Phillips 66 by 9.7% in the first quarter. HM Payson & Co. now owns 314,432 shares of the oil and gas company’s stock worth $24,909,000 after buying an additional 27,718 shares during the period. Achmea Investment Management B.V. bought a new stake in Phillips 66 during the first quarter worth approximately $6,820,000. OLD Republic International Corp increased its stake in Phillips 66 by 16.5% in the first quarter. OLD Republic International Corp now owns 359,500 shares of the oil and gas company’s stock worth $28,480,000 after buying an additional 51,000 shares during the period. North Star Asset Management Inc. increased its stake in Phillips 66 by 31.5% in the first quarter. North Star Asset Management Inc. now owns 4,172 shares of the oil and gas company’s stock worth $331,000 after buying an additional 1,000 shares during the period. Finally, Bank of Nova Scotia increased its stake in Phillips 66 by 906.3% in the first quarter. Bank of Nova Scotia now owns 101,501 shares of the oil and gas company’s stock worth $8,041,000 after buying an additional 91,414 shares during the period. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.25% on Tuesday, reaching $83.67. 435,266 shares of the company were exchanged. The stock has a market capitalization of $42.80 billion, a P/E ratio of 25.02 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 stock has a 50 day moving average price of $83.20 and a 200-day moving average price of $79.78.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a net margin of 2.42% and a return on equity of 9.83%. During the same period last year, the company posted $0.94 EPS. On average, equities analysts expect that Phillips 66 will post $4.05 EPS for the current fiscal year.
The business also recently announced 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 of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.34%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
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A number of analysts recently commented on PSX shares. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. US Capital Advisors reiterated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target 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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