Northern Trust Corp Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Northern Trust Corp boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 10.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,589,079 shares of the oil and gas company’s stock after acquiring an additional 440,107 shares during the quarter. Northern Trust Corp’s holdings in Phillips 66 were worth $522,834,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Phillips 66 by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 315,817 shares of the oil and gas company’s stock worth $35,981,000 after purchasing an additional 4,637 shares during the last quarter. Bellwether Advisors LLC bought a new position in Phillips 66 in the 4th quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $299,000. Shorepoint Capital Partners LLC boosted its holdings in shares of Phillips 66 by 1.7% in the fourth quarter. Shorepoint Capital Partners LLC now owns 37,657 shares of the oil and gas company’s stock valued at $4,290,000 after purchasing an additional 627 shares during the period. Finally, Berger Financial Group Inc grew its stake in Phillips 66 by 2.3% in the fourth quarter. Berger Financial Group Inc now owns 39,916 shares of the oil and gas company’s stock worth $4,548,000 after purchasing an additional 893 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday. Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. TD Cowen cut their price objective on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company dropped their target price on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.36.

Phillips 66 Stock Performance

PSX opened at $106.08 on Wednesday. The firm’s 50-day moving average price is $114.80 and its 200-day moving average price is $120.72. The company has a market cap of $43.22 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. 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 has a 52-week low of $91.01 and a 52-week high of $150.91.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.52%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 97.17%.

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.