Northern Trust Corp Has $410.04 Million Stake in Phillips 66 (PSX)

Northern Trust Corp lowered its position in shares of Phillips 66 (NYSE:PSX) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,958,784 shares of the oil and gas company’s stock after selling 407,268 shares during the period. Northern Trust Corp owned approximately 0.97% of Phillips 66 worth $410,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Waldron LP raised its stake in shares of Phillips 66 by 14.5% during the first quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 399 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Phillips 66 by 51.2% during the first quarter. YorkBridge Wealth Partners LLC now owns 4,321 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 1,463 shares during the period. Neuburgh Advisers LLC raised its stake in shares of Phillips 66 by 27.2% during the first quarter. Neuburgh Advisers LLC now owns 11,934 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 2,550 shares during the period. Pax World Management LLC raised its stake in shares of Phillips 66 by 6.3% during the first quarter. Pax World Management LLC now owns 3,377 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 200 shares during the period. Finally, Engineers Gate Manager LP raised its stake in shares of Phillips 66 by 131.1% during the first quarter. Engineers Gate Manager LP now owns 12,248 shares of the oil and gas company’s stock valued at $970,000 after purchasing an additional 6,948 shares during the period. Institutional investors own 69.54% of the company’s stock.

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In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

PSX has been the topic of a number of analyst reports. Scotiabank reiterated a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reissued a “buy” rating and set a $84.00 price target on shares of Phillips 66 in a research report on Friday, July 14th. Finally, Barclays PLC reissued an “equal weight” rating and set a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $93.38.

Phillips 66 (NYSE PSX) opened at 90.87 on Tuesday. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $95.00. The firm has a 50-day moving average of $88.92 and a 200-day moving average of $82.43. The firm has a market cap of $46.48 billion, a P/E ratio of 27.19 and a beta of 1.19.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period in the previous year, the business posted $0.94 earnings per share. On average, analysts expect that Phillips 66 will post $4.34 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio is presently 83.58%.

Phillips 66 announced that its board has initiated a share repurchase plan on Monday, October 9th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Phillips 66 Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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

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