Royal Bank of Canada Has $170.59 Million Stock Position in Phillips 66 (NYSE:PSX)

Royal Bank of Canada grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 42.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,497,300 shares of the oil and gas company's stock after buying an additional 446,444 shares during the period. Royal Bank of Canada owned 0.36% of Phillips 66 worth $170,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. NewEdge Wealth LLC increased its holdings in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc grew its position in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after buying an additional 85 shares in the last quarter. Nwam LLC increased its stake in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after acquiring an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank decreased their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. TD Cowen lifted their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays upped their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Stock Up 1.1%

Shares of PSX traded up $1.19 during mid-day trading on Thursday, reaching $112.97. The company's stock had a trading volume of 3,588,052 shares, compared to its average volume of 2,991,947. The company has a market cap of $46.03 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The business has a fifty day moving average of $111.23 and a 200 day moving average of $119.18. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.25%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio is 109.34%.

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.