Phillips 66 (PSX) Holdings Trimmed by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,201 shares of the oil and gas company’s stock after selling 800 shares during the period. Phillips 66 makes up about 1.1% of Fernwood Investment Management LLC’s portfolio, making the stock its 25th biggest position. Fernwood Investment Management LLC’s holdings in Phillips 66 were worth $2,052,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in Phillips 66 by 152.4% in the third quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 570 shares during the last quarter. Tuttle Tactical Management purchased a new position in Phillips 66 in the second quarter valued at about $107,000. Baker Ellis Asset Management LLC purchased a new position in Phillips 66 in the second quarter valued at about $111,000. Omnia Family Wealth LLC grew its stake in Phillips 66 by 3,040.6% in the second quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 973 shares during the last quarter. Finally, Willingdon Wealth Management purchased a new position in Phillips 66 in the third quarter valued at about $139,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Shares of NYSE PSX opened at $93.52 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82. The stock has a market capitalization of $43.12 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. Phillips 66 has a fifty-two week low of $88.99 and a fifty-two week high of $123.97.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.60. The business had revenue of $30.59 billion during the quarter, compared to the consensus estimate of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same quarter last year, the company earned $1.66 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 8.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, November 16th. Phillips 66’s dividend payout ratio is presently 73.06%.

In other Phillips 66 news, Director J Brian Ferguson purchased 21,500 shares of the stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $92.31 per share, with a total value of $1,984,665.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by company insiders.

Several research firms have issued reports on PSX. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Citigroup lifted their target price on Phillips 66 from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, September 7th. Raymond James cut their target price on Phillips 66 from $139.00 to $135.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $122.19.

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Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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