NorthRock Partners LLC Acquires New Stake in Phillips 66 (NYSE:PSX)

NorthRock Partners LLC acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,554 shares of the oil and gas company's stock, valued at approximately $633,000.

Several other institutional investors also recently bought and sold shares of PSX. Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $142,185,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after purchasing an additional 942,922 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Down 3.0%

NYSE:PSX traded down $3.76 on Monday, reaching $121.97. The company's stock had a trading volume of 3,769,962 shares, compared to its average volume of 2,964,482. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. 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 market cap of $49.70 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The stock has a 50 day moving average price of $111.61 and a 200 day moving average price of $119.21.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. StockNews.com raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company lowered their price target on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Barclays lifted their price target on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. UBS Group cut their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.