Northwest & Ethical Investments L.P. Grows Stock Holdings in Phillips 66 $PSX

Key Points

• Northwest & Ethical Investments L.P. increased its ownership in Phillips 66 by 42%, acquiring an additional 8,796 shares, bringing its total holdings to 29,748 shares worth $3.67 million.
• Phillips 66 reported $2.38 earnings per share for the last quarter, surpassing the forecast of $1.79, with revenue of $33.77 billion.
• The company declared a quarterly dividend of $1.20 per share, with a yield of 3.9%, which will be paid on September 2nd.

Northwest & Ethical Investments L.P. boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 42.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,748 shares of the oil and gas company's stock after buying an additional 8,796 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Phillips 66 were worth $3,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Pacific Center for Financial Services bought a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 over the last 90 days. Corporate insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group upped their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating for the company. Wells Fargo & Company cut their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Compass Point assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and an average price target of $136.20.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $5.3520 during mid-day trading on Friday, hitting $129.8020. 2,674,005 shares of the stock were exchanged, compared to its average volume of 2,228,690. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.85. The company has a 50-day simple moving average of $124.31 and a 200 day simple moving average of $119.05. 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 company has a market capitalization of $52.46 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.68 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter last year, the firm earned $2.31 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

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.