Haverford Trust Co Reduces Stock Position in Phillips 66 (NYSE:PSX)

Haverford Trust Co lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 1.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,158 shares of the oil and gas company’s stock after selling 298 shares during the quarter. Haverford Trust Co’s holdings in Phillips 66 were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the 2nd quarter worth about $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter worth about $30,000. Finally, Bank & Trust Co purchased a new position in shares of Phillips 66 during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Trading Up 1.7 %

NYSE:PSX opened at $129.92 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The stock’s 50-day moving average is $129.73 and its two-hundred day moving average is $136.04. The stock has a market cap of $53.66 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly 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 return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the company earned $4.63 earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.