grace capital purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the oil and gas company’s stock, valued at approximately $224,000.

Other hedge funds also recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Phillips 66 by 14.7% in the second quarter. Sei Investments Co. now owns 152,841 shares of the oil and gas company’s stock worth $17,166,000 after acquiring an additional 19,537 shares in the last quarter. Brookstone Capital Management increased its position in shares of Phillips 66 by 39.3% in the second quarter. Brookstone Capital Management now owns 4,376 shares of the oil and gas company’s stock worth $491,000 after acquiring an additional 1,234 shares in the last quarter. BB&T Securities LLC increased its position in shares of Phillips 66 by 1.7% in the second quarter. BB&T Securities LLC now owns 118,907 shares of the oil and gas company’s stock worth $13,353,000 after acquiring an additional 1,956 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Phillips 66 in the second quarter worth $3,338,000. Finally, First Republic Investment Management Inc. increased its position in shares of Phillips 66 by 17.3% in the second quarter. First Republic Investment Management Inc. now owns 130,687 shares of the oil and gas company’s stock worth $14,678,000 after acquiring an additional 19,279 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

PSX has been the subject of several recent research reports. Argus increased their price objective on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research report on Friday, August 31st. Morgan Stanley increased their price objective on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Citigroup increased their price objective on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average target price of $113.86.

Shares of PSX stock opened at $113.02 on Friday. The firm has a market capitalization of $52.25 billion, a PE ratio of 25.80, a PEG ratio of 1.68 and a beta of 0.99. The company has a quick ratio of 0.82, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Phillips 66 has a twelve month low of $85.95 and a twelve month high of $123.97.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.64. The business had revenue of $29.74 billion during the quarter, compared to the consensus estimate of $29.40 billion. Phillips 66 had a net margin of 5.34% and a return on equity of 12.87%. During the same period in the prior year, the firm earned $1.09 earnings per share. research analysts predict that Phillips 66 will post 7.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were paid a $0.80 dividend. The ex-dividend date was Monday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 2.83%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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

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