C M Bidwell & Associates Ltd. bought a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,045 shares of the oil and gas company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. BlackRock Inc. boosted its position in Phillips 66 by 13.6% during the third quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock valued at $3,731,461,000 after buying an additional 3,956,900 shares during the period. FMR LLC boosted its position in Phillips 66 by 9.0% during the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after buying an additional 1,188,567 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Phillips 66 by 0.5% during the third quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock worth $954,557,000 after purchasing an additional 39,493 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after purchasing an additional 36,370 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Phillips 66 by 4.2% during the second quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock worth $618,420,000 after purchasing an additional 221,487 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of PSX opened at $91.40 on Thursday. 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 has a one year low of $88.99 and a one year high of $123.97. The stock has a market capitalization of $43.12 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.23 and a beta of 0.95.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.60. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. The business had revenue of $30.59 billion during the quarter, compared to analyst estimates of $28.50 billion. During the same period last year, the business posted $1.66 earnings per share. Sell-side analysts predict that Phillips 66 will post 8.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were issued a $0.80 dividend. The ex-dividend date was Friday, November 16th. This represents a $3.20 annualized dividend and a yield of 3.50%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.

In related news, Director J Brian Ferguson acquired 21,500 shares of the stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. JPMorgan Chase & Co. upgraded shares of Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price for the company in a report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Raymond James dropped their target price on shares of Phillips 66 from $139.00 to $135.00 and set an “outperform” rating for the company in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 currently has an average rating of “Hold” and a consensus target price of $122.19.

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About Phillips 66

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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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