Everence Capital Management Inc. Makes New $3.03 Million Investment in Phillips 66 (NYSE:PSX)

Everence Capital Management Inc. purchased a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 26,620 shares of the oil and gas company’s stock, valued at approximately $3,033,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $10,753,000 after acquiring an additional 60,355 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Nwam LLC purchased a new position in Phillips 66 during the 3rd quarter worth $498,000. Principal Financial Group Inc. increased its position in Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after buying an additional 14,209 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in Phillips 66 during the 3rd quarter valued at about $607,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $0.89 during trading on Friday, hitting $115.30. 522,223 shares of the stock traded hands, compared to its average volume of 1,481,118. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a market cap of $47.62 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 4.06 and a beta of 1.35. 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 company has a fifty day moving average price of $124.13 and a two-hundred day moving average price of $131.40.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the firm earned $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 analysts predict that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.99%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSX. Scotiabank dropped their price target on 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. Barclays dropped their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company reduced their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $148.57.

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.