RNC Capital Management LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

RNC Capital Management LLC raised its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,834 shares of the oil and gas company’s stock after buying an additional 5,562 shares during the quarter. Phillips 66 makes up approximately 2.9% of RNC Capital Management LLC’s holdings, making the stock its 11th largest holding. RNC Capital Management LLC owned 0.11% of Phillips 66 worth $51,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PSX. Hallmark Capital Management Inc. grew its holdings in shares of Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 125 shares during the period. Horan Securities Inc. grew its holdings in shares of Phillips 66 by 210.6% during the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 238 shares during the period. Align Wealth Management LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $28,000. Core Alternative Capital grew its holdings in shares of Phillips 66 by 218.3% during the 3rd quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 251 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 70.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSX shares. Wells Fargo & Company decreased their target price on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, January 5th. UBS Group assumed coverage on Phillips 66 in a research report on Wednesday, March 8th. They set a “buy” rating and a $139.00 price target on the stock. StockNews.com assumed coverage on Phillips 66 in a research report on Thursday. They set a “buy” rating on the stock. Morgan Stanley boosted their price target on Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Finally, Mizuho reduced their price target on Phillips 66 from $121.00 to $120.00 in a research report on Friday, March 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $121.27.

Phillips 66 Stock Performance

PSX stock opened at $94.72 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. The firm has a market cap of $43.94 billion, a P/E ratio of 4.13, a P/E/G ratio of 0.33 and a beta of 1.37. Phillips 66 has a 12-month low of $74.02 and a 12-month high of $113.53. The stock’s 50 day simple moving average is $102.53 and its 200 day simple moving average is $99.39.

Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.35). The firm had revenue of $40.91 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same period in the prior year, the company posted $2.94 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 15.68 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. This represents a $4.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, February 17th. Phillips 66’s dividend payout ratio is currently 18.30%.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes purchased 10,250 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were acquired at an average cost of $97.75 per share, with a total value of $1,001,937.50. Following the transaction, the director now owns 14,299 shares in the company, valued at approximately $1,397,727.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.