Old Port Advisors Raises Stock Position in Phillips 66 (NYSE:PSX)

Old Port Advisors lifted its position in shares of Phillips 66 (NYSE:PSX) by 14.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,853 shares of the oil and gas company’s stock after buying an additional 239 shares during the period. Old Port Advisors’ holdings in Phillips 66 were worth $211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its position in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after acquiring an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $114.41 on Friday. The company has a market cap of $47.25 billion, a P/E ratio of 14.69, a P/E/G ratio of 4.06 and a beta of 1.35. The firm’s 50 day moving average is $124.13 and its two-hundred day moving average is $131.40. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued 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 business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the company posted $4.63 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.00.

About Phillips 66

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.