Northwest & Ethical Investments L.P. Sells 3,105 Shares of Phillips 66 (NYSE:PSX)

Northwest & Ethical Investments L.P. reduced its position in shares of Phillips 66 (NYSE:PSX) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,785 shares of the oil and gas company’s stock after selling 3,105 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Phillips 66 were worth $1,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Strategic Financial Concepts LLC bought a new stake in Phillips 66 during the second quarter worth $26,000. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the third quarter worth $30,000. Bank & Trust Co bought a new stake in Phillips 66 during the second quarter worth $31,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the second quarter valued at about $34,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSX. UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen dropped their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley dropped their price objective 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. Finally, Barclays dropped their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 0.5 %

Shares of Phillips 66 stock opened at $134.02 on Friday. The company has a market capitalization of $55.35 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33. 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 12-month low of $119.77 and a 12-month high of $174.08. The firm’s 50-day moving average price is $130.68 and its two-hundred day moving average price is $134.99.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.63 earnings per share. On average, analysts forecast that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid 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 yield of 3.43%. Phillips 66’s payout ratio is 59.05%.

About Phillips 66

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.