Fiera Capital Corp Takes Position in Phillips 66 $PSX

Fiera Capital Corp bought a new position in shares of Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,651 shares of the oil and gas company’s stock, valued at approximately $5,665,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Syon Capital LLC boosted its holdings in Phillips 66 by 34.2% in the third quarter. Syon Capital LLC now owns 5,153 shares of the oil and gas company’s stock valued at $701,000 after purchasing an additional 1,312 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Phillips 66 by 2.2% in the 3rd quarter. Advisors Capital Management LLC now owns 67,687 shares of the oil and gas company’s stock valued at $9,207,000 after buying an additional 1,488 shares during the period. Jacobi Capital Management LLC boosted its stake in shares of Phillips 66 by 1.6% in the third quarter. Jacobi Capital Management LLC now owns 11,793 shares of the oil and gas company’s stock worth $1,604,000 after buying an additional 181 shares during the last quarter. First National Bank of Omaha acquired a new stake in Phillips 66 during the third quarter worth about $2,357,000. Finally, Drucker Wealth 3.0 LLC grew its holdings in Phillips 66 by 72.3% during the third quarter. Drucker Wealth 3.0 LLC now owns 5,642 shares of the oil and gas company’s stock worth $767,000 after acquiring an additional 2,368 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $155.72 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a fifty day moving average of $141.98 and a 200 day moving average of $136.08. The firm has a market cap of $62.74 billion, a PE ratio of 14.39, a PEG ratio of 0.55 and a beta of 0.90. Phillips 66 has a one year low of $91.01 and a one year high of $163.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter last year, the business earned ($0.15) earnings per share. As a group, research analysts predict 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 Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is presently 44.36%.

Analysts Set New Price Targets

PSX has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating and issued a $172.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Barclays set a $158.00 target price on shares of Phillips 66 in a research note on Friday. Morgan Stanley raised their price target on shares of Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Scotiabank reaffirmed a “sector perform” rating and issued a $140.00 price objective on shares of Phillips 66 in a report on Friday, January 16th. Finally, Argus increased their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $160.11.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,788 shares of company stock worth $6,067,250. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.