Phillips 66 $PSX Stake Lifted by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its stake in Phillips 66 (NYSE:PSX) by 8.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,712 shares of the oil and gas company’s stock after acquiring an additional 628 shares during the period. Cidel Asset Management Inc.’s holdings in Phillips 66 were worth $920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Brighton Jones LLC boosted its holdings in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Phillips 66 by 15.2% in the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after acquiring an additional 1,268 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after acquiring an additional 26,825 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Phillips 66 by 18.2% in the first quarter. ORG Partners LLC now owns 1,050 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 162 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in Phillips 66 during the first quarter worth approximately $509,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes bought 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 9,850 shares of company stock worth $1,188,910 in the last quarter. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Up 0.7%

Phillips 66 stock opened at $129.21 on Monday. The company has a 50 day moving average price of $130.43 and a 200 day moving average price of $120.88. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market capitalization of $52.22 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 1.79 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the business posted $2.31 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PSX shares. Morgan Stanley raised their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. UBS Group raised their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Jefferies Financial Group raised their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

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.