Verdence Capital Advisors LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

Verdence Capital Advisors LLC lifted its stake in Phillips 66 (NYSE:PSX) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,227 shares of the oil and gas company’s stock after acquiring an additional 537 shares during the period. Verdence Capital Advisors LLC’s holdings in Phillips 66 were worth $1,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Fiduciary Investment Counsel Inc. grew its holdings in shares of Phillips 66 by 5.7% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 54,704 shares of the oil and gas company’s stock worth $7,191,000 after purchasing an additional 2,966 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at about $244,000. Equitable Trust Co. grew its stake in Phillips 66 by 3.5% during the 3rd quarter. Equitable Trust Co. now owns 24,837 shares of the oil and gas company’s stock worth $3,265,000 after buying an additional 833 shares during the last quarter. Leavell Investment Management Inc. increased its position in Phillips 66 by 4.7% during the third quarter. Leavell Investment Management Inc. now owns 60,440 shares of the oil and gas company’s stock worth $7,945,000 after buying an additional 2,725 shares during the period. Finally, Philip James Wealth Mangement LLC purchased a new stake in Phillips 66 in the third quarter valued at approximately $906,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Stock Down 0.2 %

Phillips 66 stock opened at $126.45 on Friday. The stock’s 50 day moving average price is $130.12 and its 200 day moving average price is $136.72. The company has a market cap of $52.22 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $110.54 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the company posted $4.63 EPS. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, sell-side analysts predict that Phillips 66 will post 7.68 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. Phillips 66’s payout ratio is 59.05%.

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.