Northern Capital Management LLC boosted its stake in Phillips 66 (NYSE:PSX) by 14.1% during the third quarter, Holdings Channel reports. The fund owned 7,101 shares of the company’s stock after buying an additional 875 shares during the period. Northern Capital Management LLC’s holdings in Phillips 66 were worth $572,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Aberdeen Asset Management PLC UK increased its position in shares of Phillips 66 by 1.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 269,229 shares of the company’s stock valued at $21,361,000 after buying an additional 3,289 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Phillips 66 by 9.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 732,963 shares of the company’s stock valued at $58,153,000 after buying an additional 65,973 shares during the period. Bank of Montreal Can bought a new position in shares of Phillips 66 during the second quarter valued at about $31,281,000. Todd Asset Management LLC increased its position in shares of Phillips 66 by 8.6% in the second quarter. Todd Asset Management LLC now owns 579,706 shares of the company’s stock valued at $45,994,000 after buying an additional 45,926 shares during the period. Finally, Reliance Trust Co. of Delaware increased its position in shares of Phillips 66 by 3.2% in the second quarter. Reliance Trust Co. of Delaware now owns 26,282 shares of the company’s stock valued at $2,086,000 after buying an additional 818 shares during the period. 68.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) traded down 0.20% during trading on Friday, hitting $84.89. 972,150 shares of the stock traded hands. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $93.46. The firm has a market cap of $44.21 billion, a P/E ratio of 22.23 and a beta of 1.35. The company has a 50-day moving average of $81.13 and a 200-day moving average of $79.09.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 28th. The company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.17. Phillips 66 had a return on equity of 8.86% and a net margin of 2.43%. During the same period last year, the company earned $3.02 EPS. On average, analysts forecast that Phillips 66 will post $3.42 EPS for the current fiscal year.
The business also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Tuesday, November 15th. Phillips 66’s dividend payout ratio is currently 66.14%.
PSX has been the topic of several research reports. Barclays PLC reiterated an “equal weight” rating and set a $86.00 price target on shares of Phillips 66 in a research report on Thursday, July 28th. Morgan Stanley reiterated a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Cowen and Company upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $76.15 to $92.00 in a research report on Wednesday, August 3rd. Vetr downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.83 target price on the stock. in a research report on Monday, August 8th. Finally, Piper Jaffray Cos. upped their target price on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $86.12.
In other Phillips 66 news, VP Lawrence Michael Ziemba sold 72,630 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.20, for a total value of $5,824,926.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Timothy Garth Taylor sold 27,260 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $82.91, for a total value of $2,260,126.60. Following the completion of the transaction, the president now directly owns 68,878 shares in the company, valued at $5,710,674.98. The disclosure for this sale can be found here. 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.