Pacific Heights Asset Management LLC held its position in Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The fund owned 100,000 shares of the oil and gas company’s stock at the end of the second quarter. Pacific Heights Asset Management LLC’s holdings in Phillips 66 were worth $8,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Osborne Partners Capital Management LLC boosted its position in Phillips 66 by 3.8% in the second quarter. Osborne Partners Capital Management LLC now owns 80,818 shares of the oil and gas company’s stock valued at $6,683,000 after buying an additional 2,951 shares during the period. Hermes Investment Management Ltd. bought a new position in Phillips 66 during the second quarter valued at $739,000. Rothschild Investment Corp IL boosted its position in Phillips 66 by 0.5% in the second quarter. Rothschild Investment Corp IL now owns 21,008 shares of the oil and gas company’s stock valued at $1,737,000 after buying an additional 100 shares during the period. Private Capital Management Inc. boosted its position in Phillips 66 by 6.5% in the second quarter. Private Capital Management Inc. now owns 8,200 shares of the oil and gas company’s stock valued at $678,000 after buying an additional 500 shares during the period. Finally, Osborn Williams & Donohoe LLC boosted its position in Phillips 66 by 23.2% in the second quarter. Osborn Williams & Donohoe LLC now owns 27,249 shares of the oil and gas company’s stock valued at $2,253,000 after buying an additional 5,137 shares during the period. Hedge funds and other institutional investors own 69.57% of the company’s stock.

Phillips 66 (PSX) traded down 0.61% during mid-day trading on Tuesday, reaching $83.37. 697,461 shares of the company’s stock were exchanged. The firm has a market cap of $42.64 billion, a price-to-earnings ratio of 24.93 and a beta of 1.22. The stock has a 50-day moving average of $83.20 and a 200-day moving average of $79.78. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.

Phillips 66 (NYSE:PSX) last released 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 Thomson Reuters’ consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion during 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 quarter last year, the firm earned $0.94 earnings per share. Analysts anticipate that Phillips 66 will post $4.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.

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Several research analysts recently weighed in on the stock. Barclays PLC restated 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. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a research report on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. 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 given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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