Leavell Investment Management Inc. Sells 5,175 Shares of Phillips 66 (PSX)
Leavell Investment Management Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 23.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,784 shares of the oil and gas company’s stock after selling 5,175 shares during the period. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $1,388,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the period. OppenheimerFunds Inc. increased its stake in Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares during the period. Clearbridge Investments LLC increased its stake in Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after buying an additional 1,396,918 shares during the period. New England Asset Management Inc. acquired a new stake in Phillips 66 during the first quarter valued at approximately $104,095,000. Finally, State Street Corp increased its stake in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares during the period. 69.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (PSX) traded down 0.01% during midday trading on Thursday, hitting $83.59. 700,298 shares of the stock were exchanged. The firm’s 50 day moving average price is $83.34 and its 200-day moving average price is $79.89. The stock has a market cap of $42.76 billion, a P/E ratio of 25.00 and a beta of 1.22. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87.
Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities research analysts expect that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given 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 of this dividend is Wednesday, August 16th. Phillips 66’s dividend payout ratio is currently 83.58%.
PSX has been the topic of several recent research reports. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 price objective 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. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Finally, Scotiabank reaffirmed a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Phillips 66 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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