Today: The Wilen Investment Management CORP. Cuts Stake in Phillips 66 (PSX)

The Wilen Investment Management CORP. Cuts Stake in Phillips 66 (PSX)

Wilen Investment Management CORP. lowered its position in shares of Phillips 66 (NYSE:PSX) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 42,536 shares of the company’s stock after selling 300 shares during the period. Phillips 66 comprises approximately 2.2% of Wilen Investment Management CORP.’s investment portfolio, making the stock its 12th largest position. Wilen Investment Management CORP.’s holdings in Phillips 66 were worth $3,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Cribstone Capital Management LLC purchased a new stake in Phillips 66 during the second quarter worth $114,000. Trust Co. of Vermont increased its stake in Phillips 66 by 5.7% in the second quarter. Trust Co. of Vermont now owns 1,926 shares of the company’s stock worth $153,000 after buying an additional 103 shares in the last quarter. Financial Architects Inc increased its stake in Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock worth $160,000 after buying an additional 1,622 shares in the last quarter. CWM LLC increased its stake in Phillips 66 by 52.7% in the second quarter. CWM LLC now owns 2,142 shares of the company’s stock worth $170,000 after buying an additional 739 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Phillips 66 by 8.4% in the second quarter. Signaturefd LLC now owns 2,268 shares of the company’s stock worth $180,000 after buying an additional 175 shares in the last quarter. 69.97% of the stock is owned by institutional investors and hedge funds.

Shares of Phillips 66 (NYSE:PSX) traded up 0.18% during midday trading on Friday, reaching $80.13. The company had a trading volume of 2,977,358 shares. The company’s 50-day moving average is $79.78 and its 200-day moving average is $79.50. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12. The stock has a market capitalization of $41.90 billion, a PE ratio of 21.00 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17. 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 business earned $3.02 EPS. On average, equities research analysts forecast that Phillips 66 will post $3.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 annualized dividend and a yield of 3.14%. Phillips 66’s payout ratio is 66.14%.

PSX has been the topic of a number of research analyst reports. Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.83 price target on the stock. in a report on Monday, August 15th. TheStreet upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Barclays PLC cut Phillips 66 from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $93.00 to $86.00 in a report on Wednesday, July 13th. Finally, Morgan Stanley restated a “hold” rating on shares of Phillips 66 in a report on Monday, August 1st. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average price target of $86.12.

In other news, major shareholder Berkshire Hathaway Inc purchased 215,869 shares of Phillips 66 stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average cost of $77.83 per share, with a total value of $16,801,084.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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