Aristotle Capital Management LLC Lowers Position in Phillips 66 (NYSE:PSX)

Aristotle Capital Management LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,705 shares of the oil and gas company’s stock after selling 354 shares during the quarter. Aristotle Capital Management LLC’s holdings in Phillips 66 were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. World Investment Advisors LLC bought a new position in shares of Phillips 66 in the third quarter worth approximately $796,000. Tidal Investments LLC increased its holdings in shares of Phillips 66 by 11.8% in the 3rd quarter. Tidal Investments LLC now owns 21,523 shares of the oil and gas company’s stock worth $2,829,000 after buying an additional 2,274 shares during the last quarter. Synovus Financial Corp raised its position in shares of Phillips 66 by 25.4% during the 3rd quarter. Synovus Financial Corp now owns 26,554 shares of the oil and gas company’s stock valued at $3,490,000 after buying an additional 5,376 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Finally, Old Port Advisors grew its position in Phillips 66 by 14.8% in the fourth quarter. Old Port Advisors now owns 1,853 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 3.5 %

PSX opened at $107.08 on Friday. The firm has a market capitalization of $43.63 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The business has a 50 day simple moving average of $113.45 and a two-hundred day simple moving average of $120.22. 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 announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the business earned $1.90 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.20 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio is presently 109.34%.

Analyst Ratings Changes

A number of research firms have weighed in on PSX. Barclays lowered their price target on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Scotiabank decreased their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Raymond James decreased their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, TD Cowen reduced their target price on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.36.

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.