Hudson Valley Investment Advisors Inc. ADV Sells 1,307 Shares of Phillips 66 (NYSE:PSX)

Hudson Valley Investment Advisors Inc. ADV reduced its stake in Phillips 66 (NYSE:PSX) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,126 shares of the oil and gas company’s stock after selling 1,307 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Phillips 66 were worth $1,228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LSV Asset Management increased its stake in shares of Phillips 66 by 43.3% during the 1st quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock worth $436,753,000 after purchasing an additional 1,387,767 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Phillips 66 by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after purchasing an additional 1,181,277 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Phillips 66 by 9,254.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 799,205 shares of the oil and gas company’s stock worth $79,920,000 after acquiring an additional 790,661 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Phillips 66 by 8.0% during the 1st quarter. Wells Fargo & Company MN now owns 9,072,943 shares of the oil and gas company’s stock worth $863,471,000 after acquiring an additional 674,509 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Phillips 66 by 16.4% during the 1st quarter. JPMorgan Chase & Co. now owns 4,419,048 shares of the oil and gas company’s stock worth $420,561,000 after acquiring an additional 621,862 shares during the period. 71.31% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on PSX shares. Raymond James upped their price target on shares of Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Cowen upped their price target on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. ValuEngine cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Bank of America upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Phillips 66 currently has a consensus rating of “Buy” and an average target price of $117.64.

Phillips 66 stock opened at $97.47 on Friday. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $121.54. The firm has a market capitalization of $44.74 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The firm’s fifty day moving average price is $99.21 and its two-hundred day moving average price is $94.05. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same period last year, the firm earned $2.80 earnings per share. On average, research analysts forecast that Phillips 66 will post 7.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s payout ratio is currently 30.74%.

In other news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Phillips 66 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.

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

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