Sterling Capital Management LLC Buys 84,115 Shares of Phillips 66 (NYSE:PSX)

Sterling Capital Management LLC boosted its stake in Phillips 66 (NYSE:PSX) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 962,146 shares of the oil and gas company’s stock after acquiring an additional 84,115 shares during the period. Phillips 66 accounts for about 0.9% of Sterling Capital Management LLC’s holdings, making the stock its 26th biggest position. Sterling Capital Management LLC owned about 0.21% of Phillips 66 worth $89,999,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. First Merchants Corp raised its position in Phillips 66 by 13.5% in the second quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock worth $1,665,000 after acquiring an additional 2,117 shares during the period. Mitchell Capital Management Co. increased its stake in shares of Phillips 66 by 23.4% in the second quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock worth $1,678,000 after purchasing an additional 3,405 shares in the last quarter. Copeland Capital Management LLC increased its stake in shares of Phillips 66 by 44.1% in the second quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock worth $4,227,000 after purchasing an additional 13,840 shares in the last quarter. Baxter Bros Inc. increased its stake in shares of Phillips 66 by 8.7% in the second quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock worth $1,247,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Rothschild Investment Corp IL increased its stake in shares of Phillips 66 by 3.6% in the second quarter. Rothschild Investment Corp IL now owns 29,163 shares of the oil and gas company’s stock worth $2,728,000 after purchasing an additional 1,025 shares in the last quarter. 68.71% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Scotiabank assumed coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating for the company. Cowen lifted their target price on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Macquarie assumed coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $115.55.

NYSE:PSX traded up $1.26 during mid-day trading on Monday, hitting $104.03. 4,374,403 shares of the stock traded hands, compared to its average volume of 2,628,853. The business’s 50-day moving average price is $99.48 and its 200 day moving average price is $94.61. The company has a market cap of $45.84 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $119.14. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the previous year, the company earned $2.80 earnings per share. Analysts anticipate that Phillips 66 will post 7.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.90 per share. The ex-dividend date was Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.46%. Phillips 66’s dividend payout ratio is currently 30.74%.

Phillips 66 Company Profile

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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

See Also: Technical Analysis of Stocks and What It Means

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 MarketBeat.com's FREE daily email newsletter.