Northwest & Ethical Investments L.P. Sells 3,105 Shares of Phillips 66 (NYSE:PSX)

Northwest & Ethical Investments L.P. lowered its stake in Phillips 66 (NYSE:PSX) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,785 shares of the oil and gas company’s stock after selling 3,105 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Phillips 66 were worth $1,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter worth about $26,000. Bank & Trust Co bought a new position in shares of Phillips 66 in the second quarter worth about $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the second quarter worth about $34,000. Finally, Fortitude Family Office LLC raised its holdings in Phillips 66 by 52.3% in the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSX shares. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Mizuho dropped their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Barclays dropped their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Performance

Shares of PSX stock opened at $134.02 on Friday. The company has a market cap of $55.35 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 4.35 and a beta of 1.33. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $130.68 and a 200-day moving average of $134.99.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 company had revenue of $36.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $4.63 EPS. On average, equities analysts forecast that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

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.