Phillips 66 (PSX) Stake Increased by Shelton Capital Management
Shelton Capital Management boosted its stake in Phillips 66 (NYSE:PSX) by 9.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 33,954 shares of the oil and gas company’s stock after buying an additional 3,004 shares during the period. Shelton Capital Management’s holdings in Phillips 66 were worth $2,690,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PSX. Peoples Financial Services CORP. boosted its stake in shares of Phillips 66 by 13.1% in the first quarter. Peoples Financial Services CORP. now owns 6,126 shares of the oil and gas company’s stock valued at $485,000 after buying an additional 711 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of 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 valued at $181,000 after buying an additional 1,315 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Phillips 66 by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,616 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 236 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Phillips 66 by 33.5% in the first quarter. Prospera Financial Services Inc now owns 7,847 shares of the oil and gas company’s stock valued at $621,000 after buying an additional 1,970 shares during the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 9 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 (NYSE PSX) traded down 0.18% on Friday, hitting $83.49. The company’s stock had a trading volume of 504,720 shares. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The company has a market capitalization of $42.71 billion, a P/E ratio of 24.97 and a beta of 1.22. The company has a 50 day moving average price of $82.97 and a 200-day moving average price of $79.84.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period last year, the firm earned $0.94 earnings per share. On average, equities analysts forecast that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Phillips 66’s payout ratio is presently 83.58%.
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Several brokerages recently commented on PSX. Barclays PLC reissued an “equal weight” rating and set a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Scotiabank set a $86.00 target price on Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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