First Fiduciary Investment Counsel Inc. Grows Holdings in Phillips 66 $PSX

First Fiduciary Investment Counsel Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 7.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 56,810 shares of the oil and gas company’s stock after buying an additional 3,941 shares during the period. First Fiduciary Investment Counsel Inc.’s holdings in Phillips 66 were worth $6,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elliott Investment Management L.P. grew its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after acquiring an additional 1,431,450 shares in the last quarter. Nuveen LLC acquired a new position in Phillips 66 during the 1st quarter worth $156,482,000. Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, Director Sigmund L. Cornelius bought 500 shares of Phillips 66 stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 9,850 shares of company stock valued at $1,188,910. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating for the company. Mizuho raised their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Evercore ISI lifted their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.75.

Phillips 66 Trading Down 3.1%

Phillips 66 stock opened at $127.01 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $129.51 and a two-hundred day moving average price of $120.63. The firm has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.92 and a beta of 1.11. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the business posted $2.31 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 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 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is presently 115.38%.

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.