Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 14.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,272 shares of the oil and gas company’s stock after purchasing an additional 1,909 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Phillips 66 were worth $1,722,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Acropolis Investment Management LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $106,000. Capital Advisors Ltd. LLC increased its holdings in Phillips 66 by 152.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 570 shares in the last quarter. Tuttle Tactical Management acquired a new stake in Phillips 66 during the 2nd quarter valued at $107,000. Baker Ellis Asset Management LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $111,000. Finally, Kaizen Advisory LLC increased its holdings in Phillips 66 by 144.3% during the 2nd quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 593 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.
NYSE PSX opened at $99.74 on Friday. The firm has a market capitalization of $47.55 billion, a PE ratio of 12.87, a PEG ratio of 1.41 and a beta of 0.99. Phillips 66 has a 52 week low of $89.14 and a 52 week high of $123.97. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.60. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. The company had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. During the same period last year, the firm earned $1.66 EPS. As a group, equities research analysts expect that Phillips 66 will post 8.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.21%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Mizuho assumed coverage on Phillips 66 in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 target price for the company. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Wednesday, August 1st. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price for the company in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price for the company in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $121.79.
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Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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