Phillips 66 (PSX) Shares Sold by Aviva PLC
Aviva PLC cut its holdings in Phillips 66 (NYSE:PSX) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 311,887 shares of the oil and gas company’s stock after selling 28,820 shares during the period. Aviva PLC owned approximately 0.06% of Phillips 66 worth $25,796,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of PSX. Waldron LP raised its position in shares of Phillips 66 by 14.5% in the 1st quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 399 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Phillips 66 by 30.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 66,726 shares of the oil and gas company’s stock worth $5,286,000 after acquiring an additional 15,624 shares in the last quarter. ING Groep NV bought a new position in shares of Phillips 66 in the 1st quarter worth about $1,063,000. Tyers Asset Management LLC raised its position in shares of Phillips 66 by 27.2% in the 1st quarter. Tyers Asset Management LLC now owns 7,722 shares of the oil and gas company’s stock worth $612,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Nwam LLC raised its position in shares of Phillips 66 by 11.3% in the 1st quarter. Nwam LLC now owns 3,441 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 350 shares in the last quarter. 69.53% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. BidaskClub raised Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank reissued a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and issued a $78.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 5th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $83.93.
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Shares of Phillips 66 (PSX) opened at 89.89 on Monday. The stock has a 50 day moving average price of $84.43 and a 200 day moving average price of $80.63. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $90.10. The firm has a market capitalization of $45.98 billion, a P/E ratio of 26.90 and a beta of 1.20.
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, topping the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts forecast that Phillips 66 will post $4.26 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Wednesday, August 16th. Phillips 66’s payout ratio is currently 83.58%.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.
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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