Phillips 66 (NYSE:PSX) Stake Lifted by Northcape Wealth Management LLC

Northcape Wealth Management LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,689 shares of the oil and gas company’s stock after purchasing an additional 150 shares during the period. Northcape Wealth Management LLC’s holdings in Phillips 66 were worth $353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Altrius Capital Management Inc raised its stake in shares of Phillips 66 by 10.2% in the 3rd quarter. Altrius Capital Management Inc now owns 32,565 shares of the oil and gas company’s stock worth $4,281,000 after buying an additional 3,004 shares in the last quarter. Archer Investment Corp grew its holdings in Phillips 66 by 56.4% during the third quarter. Archer Investment Corp now owns 1,573 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 567 shares during the period. Empirical Finance LLC raised its position in Phillips 66 by 1.4% in the third quarter. Empirical Finance LLC now owns 19,236 shares of the oil and gas company’s stock worth $2,529,000 after acquiring an additional 261 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its position in Phillips 66 by 7.1% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,892 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 126 shares in the last quarter. Finally, Dearborn Partners LLC lifted its holdings in Phillips 66 by 3.2% in the 3rd quarter. Dearborn Partners LLC now owns 6,167 shares of the oil and gas company’s stock valued at $811,000 after acquiring an additional 193 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSX. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Barclays decreased their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company cut their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $130.91 on Friday. The stock has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.26 and a beta of 1.33. The business has a 50-day moving average of $129.75 and a two-hundred day moving average of $135.81. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the company earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.