Ferguson Wellman Capital Management Inc. Has $3.06 Million Holdings in Phillips 66 (NYSE:PSX)

Ferguson Wellman Capital Management Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,290 shares of the oil and gas company’s stock after selling 840 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Phillips 66 were worth $3,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 74 shares during the last quarter. Advisory Alpha LLC raised its position in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after buying an additional 77 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its holdings in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX stock opened at $129.76 on Friday. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08. 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 business has a fifty day simple moving average of $129.68 and a 200 day simple moving average of $136.00. The company has a market cap of $53.59 billion, a P/E ratio of 16.66, a P/E/G ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released 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. 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 analysts’ expectations of $36.31 billion. During the same period in the prior year, the company earned $4.63 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.55%. Phillips 66’s payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSX shares. TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Finally, Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.