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

Altrius Capital Management Inc raised its stake in Phillips 66 (NYSE:PSX) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,565 shares of the oil and gas company’s stock after acquiring an additional 3,004 shares during the period. Altrius Capital Management Inc’s holdings in Phillips 66 were worth $4,281,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 in the second quarter worth about $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 in the second quarter worth about $3,596,000. Cetera Investment Advisers increased its holdings in shares of Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after acquiring an additional 108,515 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Phillips 66 in the third quarter worth about $607,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX traded up $1.42 during mid-day trading on Friday, reaching $131.18. The company’s stock had a trading volume of 313,301 shares, compared to its average volume of 2,653,475. Phillips 66 has a 1-year low of $111.90 and a 1-year high of $174.08. The stock has a market cap of $54.18 billion, a P/E ratio of 16.87, a PEG ratio of 4.26 and a beta of 1.33. The business has a 50-day simple moving average of $129.70 and a two-hundred day simple moving average of $135.96. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $4.63 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business 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 3.51%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Barclays decreased their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.