Altrius Capital Management Inc Purchases 3,004 Shares of Phillips 66 (NYSE:PSX)

Altrius Capital Management Inc increased its position in shares of Phillips 66 (NYSE:PSX) by 10.2% during the third quarter, HoldingsChannel reports. The fund owned 32,565 shares of the oil and gas company’s stock after buying an additional 3,004 shares during the quarter. Altrius Capital Management Inc’s holdings in Phillips 66 were worth $4,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp grew its position in Phillips 66 by 56.4% during the 3rd quarter. Archer Investment Corp now owns 1,573 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 567 shares during the last quarter. Empirical Finance LLC lifted its holdings in Phillips 66 by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 19,236 shares of the oil and gas company’s stock worth $2,529,000 after buying an additional 261 shares during the period. Signature Estate & Investment Advisors LLC lifted its holdings in Phillips 66 by 7.1% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,892 shares of the oil and gas company’s stock worth $249,000 after buying an additional 126 shares during the period. Dearborn Partners LLC lifted its holdings in Phillips 66 by 3.2% during the 3rd quarter. Dearborn Partners LLC now owns 6,167 shares of the oil and gas company’s stock worth $811,000 after buying an additional 193 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Phillips 66 by 6.1% during the 3rd quarter. CIBC Asset Management Inc now owns 71,833 shares of the oil and gas company’s stock worth $9,442,000 after buying an additional 4,146 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSX. Scotiabank cut their target price 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. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Up 1.1 %

Shares of Phillips 66 stock traded up $1.42 during trading on Friday, reaching $131.18. 313,301 shares of the stock were exchanged, compared to its average volume of 2,653,475. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $129.70 and its 200 day moving average is $135.96. The firm has a market cap of $54.18 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. Phillips 66 has a 1 year low of $111.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the business posted $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s payout ratio is 59.05%.

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.