Northcape Wealth Management LLC Has $353,000 Stock Position in Phillips 66 (NYSE:PSX)

Northcape Wealth Management LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,689 shares of the oil and gas company’s stock after buying an additional 150 shares during the quarter. Northcape Wealth Management LLC’s holdings in Phillips 66 were worth $353,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. Altrius Capital Management Inc increased its position in Phillips 66 by 10.2% during the third quarter. Altrius Capital Management Inc now owns 32,565 shares of the oil and gas company’s stock worth $4,281,000 after acquiring an additional 3,004 shares during the period. Archer Investment Corp increased its holdings in shares of Phillips 66 by 56.4% during the 3rd quarter. Archer Investment Corp now owns 1,573 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 567 shares during the period. Empirical Finance LLC raised its position in shares of Phillips 66 by 1.4% during the third quarter. Empirical Finance LLC now owns 19,236 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 261 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in shares of Phillips 66 by 7.1% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,892 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 126 shares during the period. Finally, Dearborn Partners LLC lifted its stake in shares of Phillips 66 by 3.2% in the third quarter. Dearborn Partners LLC now owns 6,167 shares of the oil and gas company’s stock valued at $811,000 after buying an additional 193 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.9 %

NYSE PSX opened at $130.91 on Friday. The stock’s 50 day simple moving average is $129.75 and its 200 day simple moving average is $135.81. 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 has a one year low of $111.90 and a one year high of $174.08. The firm has a market cap of $54.06 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 during 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%. During the same period last year, the company posted $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. Barclays cut their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

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.