First Citizens Bank & Trust Co. boosted its position in shares of Phillips 66 (NYSE:PSX) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,354 shares of the oil and gas company’s stock after acquiring an additional 608 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Phillips 66 were worth $604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Acropolis Investment Management LLC bought a new stake in Phillips 66 during the second quarter worth $106,000. Tuttle Tactical Management bought a new stake in Phillips 66 during the second quarter worth $107,000. Baker Ellis Asset Management LLC bought a new stake in Phillips 66 during the second quarter worth $111,000. Kaizen Advisory LLC raised its position in Phillips 66 by 144.3% during the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 593 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its position in Phillips 66 by 3,040.6% during the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 973 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PSX opened at $102.77 on Friday. The stock has a market capitalization of $50.50 billion, a PE ratio of 23.46, a P/E/G ratio of 1.59 and a beta of 1.00. Phillips 66 has a fifty-two week low of $89.14 and a fifty-two week high of $123.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.24.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.64. Phillips 66 had a net margin of 5.34% and a return on equity of 12.87%. The company had revenue of $29.74 billion for the quarter, compared to analyst estimates of $29.40 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 8.04 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 annualized dividend and a dividend yield of 3.11%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.

PSX has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research report on Wednesday, August 1st. Mizuho initiated coverage on shares of Phillips 66 in a research report on Wednesday, August 1st. They set a “neutral” rating and a $124.00 price target on the stock. Citigroup upped their price target on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $119.45.

Phillips 66 Company Profile

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.

Featured Article: How to Invest in an Index Fund

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

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

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.