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

Old Port Advisors lifted its position in shares of Phillips 66 (NYSE:PSX) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,853 shares of the oil and gas company’s stock after purchasing 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Strategic Financial Concepts LLC purchased a new stake in Phillips 66 during the 2nd quarter worth about $26,000. nVerses Capital LLC purchased a new stake in Phillips 66 during the third quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new position in Phillips 66 in the third quarter valued at approximately $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.4 %

PSX stock opened at $114.41 on Friday. The stock has a market capitalization of $47.25 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The company has a fifty day moving average of $124.13 and a 200-day moving average of $131.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.90 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.63 EPS. As a group, analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Phillips 66 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.