Argent Capital Management LLC raised its position in Phillips 66 (NYSE:PSX) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 2,950 shares of the oil and gas company’s stock after buying an additional 125 shares during the period. Argent Capital Management LLC’s holdings in Phillips 66 were worth $234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC raised its position in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares during the last quarter. FTB Advisors Inc. raised its position in Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares during the last quarter. Barrett Asset Management LLC raised its position in Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its position in Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock worth $153,000 after buying an additional 61 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,315 shares during the last quarter. 69.09% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 (NYSE PSX) opened at 81.96 on Wednesday. The firm has a 50-day moving average price of $80.13 and a 200-day moving average price of $79.74. The firm has a market cap of $42.30 billion, a PE ratio of 25.43 and a beta of 1.23. Phillips 66 has a one year low of $73.82 and a one year high of $88.87.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.53. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. The firm had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. On average, equities analysts expect that Phillips 66 will post $3.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 yield of 3.42%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is currently 86.96%.

ILLEGAL ACTIVITY NOTICE: “Phillips 66 (NYSE:PSX) Position Increased by Argent Capital Management LLC” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.watchlistnews.com/phillips-66-nysepsx-position-increased-by-argent-capital-management-llc/1451164.html.

A number of research analysts have commented on PSX shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $87.00 price objective on shares of Phillips 66 in a report on Thursday, April 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of Phillips 66 in a report on Thursday, May 25th. Scotiabank set a $86.00 price objective on Phillips 66 and gave the company a “hold” rating in a report on Monday, May 1st. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the company a “hold” rating in a report on Wednesday, April 19th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $84.12.

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with Analyst Ratings Network's FREE daily email newsletter.