Focus Partners Wealth Has $45.86 Million Position in Phillips 66 (NYSE:PSX)

Focus Partners Wealth increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 400,379 shares of the oil and gas company's stock after buying an additional 68,755 shares during the quarter. Focus Partners Wealth owned 0.10% of Phillips 66 worth $45,862,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PSX. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Geode Capital Management LLC boosted its stake in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% in the 4th 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 buying an additional 4,455,220 shares during the period. Northern Trust Corp raised its stake in shares of Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after buying an additional 440,107 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter valued at $497,648,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX traded down $0.01 during midday trading on Friday, hitting $124.76. The company had a trading volume of 1,167,037 shares, compared to its average volume of 2,943,623. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm's 50-day simple moving average is $111.57 and its 200-day simple moving average is $119.23. The company has a market capitalization of $50.83 billion, a PE ratio of 25.26, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

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 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 company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter last year, the firm earned $1.90 EPS. Equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. TD Cowen boosted their price target on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday. Scotiabank dropped their price objective 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. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Raymond James lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.