Saturna Capital Corp Has $227,000 Stake in Phillips 66 (NYSE:PSX)

Saturna Capital Corp increased its position in Phillips 66 (NYSE:PSX) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,729 shares of the oil and gas company’s stock after acquiring an additional 229 shares during the quarter. Saturna Capital Corp’s holdings in Phillips 66 were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. Boston Partners boosted its holdings in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Legal & General Group Plc boosted its holdings in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $149.69.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $127.83 on Wednesday. The stock has a market capitalization of $52.79 billion, a P/E ratio of 16.39, a PEG ratio of 4.19 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $129.73 and its 200 day moving average is $136.04. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

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 paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 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.