Fiduciary Trust Co Has $1.37 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Fiduciary Trust Co increased its holdings in shares of Phillips 66 (NYSE:PSX) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,014 shares of the oil and gas company’s stock after acquiring an additional 561 shares during the period. Fiduciary Trust Co’s holdings in Phillips 66 were worth $1,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Geode Capital Management LLC raised its stake in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after acquiring an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Phillips 66 by 10.6% during the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after acquiring an additional 440,107 shares during the period. Finally, Norges Bank acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $497,648,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PSX shares. Mizuho cut their price target on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reduced their target price on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. UBS Group reduced their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Barclays lowered their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $136.36.

Phillips 66 Price Performance

Phillips 66 stock opened at $110.86 on Friday. The firm has a market capitalization of $45.17 billion, a P/E ratio of 22.44, a PEG ratio of 4.84 and a beta of 1.01. The business has a 50-day moving average of $111.61 and a 200-day moving average of $119.31. 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 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the business posted $1.90 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $1.20 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio is 109.34%.

About Phillips 66

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.