Cullen Frost Bankers Inc. Increases Position in Phillips 66 (NYSE:PSX)

Cullen Frost Bankers Inc. increased its stake in Phillips 66 (NYSE:PSX) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,198 shares of the oil and gas company’s stock after purchasing an additional 2,009 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Phillips 66 were worth $1,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allred Capital Management LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. Lighthouse Financial Advisors Inc. purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $30,000. Savior LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $32,000. JFS Wealth Advisors LLC increased its holdings in shares of Phillips 66 by 56.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Finally, Manchester Financial Inc. purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 68.59% of the company’s stock.

NYSE:PSX opened at $89.47 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $100.98 and a two-hundred day moving average price of $105.74. Phillips 66 has a twelve month low of $80.24 and a twelve month high of $119.92. The company has a market capitalization of $40.14 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.01. Phillips 66 had a net margin of 2.81% and a return on equity of 13.52%. The firm had revenue of $29.61 billion during the quarter, compared to the consensus estimate of $27.30 billion. During the same period last year, the firm posted $4.87 EPS. On average, equities research analysts predict that Phillips 66 will post 9.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, February 14th. This represents a $3.60 annualized dividend and a yield of 4.02%. Phillips 66’s dividend payout ratio (DPR) is currently 44.72%.

PSX has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of Phillips 66 from $135.00 to $128.00 and set a “buy” rating for the company in a report on Friday, January 17th. ValuEngine upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 8th. Royal Bank of Canada restated a “hold” rating and set a $106.00 target price on shares of Phillips 66 in a report on Monday, February 3rd. Cowen dropped their target price on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Phillips 66 presently has a consensus rating of “Buy” and a consensus target price of $119.25.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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