Ferguson Wellman Capital Management Inc. Sells 840 Shares of Phillips 66 (NYSE:PSX)

Ferguson Wellman Capital Management Inc. trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% in the third quarter, Holdings Channel.com reports. The fund owned 23,290 shares of the oil and gas company’s stock after selling 840 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Phillips 66 were worth $3,061,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. nVerses Capital LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $34,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PSX shares. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Barclays cut their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $129.76 on Friday. The company has a fifty day moving average price of $129.68 and a 200-day moving average price of $136.00. The firm has a market cap of $53.59 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 4.26 and a beta of 1.33. 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 1 year low of $111.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 EPS. As a group, equities research analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.55%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Phillips 66 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.