Trade Report: The Sequoia Financial Advisors LLC reached $405,000 position of Phillips 66 (PSX)

The Sequoia Financial Advisors LLC reached $405,000 position  of Phillips 66 (PSX)

Sequoia Financial Advisors LLC held its position in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,102 shares of the company’s stock at the end of the second quarter. Sequoia Financial Advisors LLC’s holdings in Phillips 66 were worth $405,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. A.R. Schmeidler & Co. Inc. raised its position in Phillips 66 by 12.8% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 190,590 shares of the company’s stock valued at $16,503,000 after buying an additional 21,672 shares during the last quarter. LVW Advisors LLC increased its stake in Phillips 66 by 0.3% in the first quarter. LVW Advisors LLC now owns 3,049 shares of the company’s stock valued at $264,000 after buying an additional 10 shares during the period. Ropes Wealth Advisors LLC increased its stake in Phillips 66 by 0.6% in the first quarter. Ropes Wealth Advisors LLC now owns 2,372 shares of the company’s stock valued at $205,000 after buying an additional 15 shares during the period. Investec Asset Management LTD increased its stake in Phillips 66 by 3.4% in the first quarter. Investec Asset Management LTD now owns 367,505 shares of the company’s stock valued at $31,822,000 after buying an additional 12,194 shares during the period. Finally, Associated Banc Corp increased its stake in Phillips 66 by 2.4% in the first quarter. Associated Banc Corp now owns 122,064 shares of the company’s stock valued at $10,569,000 after buying an additional 2,833 shares during the period. Institutional investors own 69.99% of the company’s stock.

Shares of Phillips 66 (NYSE:PSX) traded up 0.20% on Friday, hitting $79.31. 1,415,361 shares of the stock traded hands. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12. The firm has a market cap of $41.47 billion, a PE ratio of 13.73 and a beta of 1.37. The firm has a 50 day moving average price of $79.49 and a 200 day moving average price of $79.96.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the previous year, the firm posted $1.83 EPS. On average, equities analysts forecast that Phillips 66 will post $3.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. Phillips 66’s dividend payout ratio is presently 43.83%.

Several research firms have commented on PSX. Vetr downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective on the stock. in a report on Monday, September 19th. Scotiabank downgraded shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $90.00 to $89.00 in a report on Monday, July 11th. Piper Jaffray Cos. upped their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. TheStreet downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price objective (down from $86.00) on shares of Phillips 66 in a report on Monday. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Phillips 66 has an average rating of “Hold” and an average target price of $86.12.

In other Phillips 66 news, major shareholder Berkshire Hathaway Inc purchased 17,910 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $77.52 per share, with a total value of $1,388,383.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.05% of the stock is owned by corporate insiders.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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