Foundation Resource Management Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 250,742 shares of the company’s stock after selling 712 shares during the period. Phillips 66 makes up 3.6% of Foundation Resource Management Inc.’s portfolio, making the stock its 10th largest position. Foundation Resource Management Inc.’s holdings in Phillips 66 were worth $20,197,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Chilton Capital Management LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $203,000. Arizona State Retirement System increased its stake in Phillips 66 by 0.3% in the first quarter. Arizona State Retirement System now owns 185,587 shares of the company’s stock valued at $16,070,000 after buying an additional 600 shares during the period. Seven Eight Capital LLC increased its stake in Phillips 66 by 88.0% in the first quarter. Seven Eight Capital LLC now owns 14,096 shares of the company’s stock valued at $1,221,000 after buying an additional 6,600 shares during the period. Squarepoint Ops LLC increased its stake in Phillips 66 by 58.4% in the first quarter. Squarepoint Ops LLC now owns 31,269 shares of the company’s stock valued at $2,708,000 after buying an additional 11,531 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Phillips 66 by 2.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 52,846 shares of the company’s stock valued at $4,569,000 after buying an additional 1,155 shares during the period. 69.64% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Phillips 66 (NYSE:PSX) traded down 0.23% during trading on Friday, reaching $83.64. The company’s stock had a trading volume of 2,220,294 shares. The stock has a market cap of $43.56 billion, a price-to-earnings ratio of 21.90 and a beta of 1.35. The company has a 50-day moving average price of $80.23 and a 200-day moving average price of $79.06. Phillips 66 has a one year low of $71.74 and a one year high of $94.06.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.17. Phillips 66 had a return on equity of 8.86% and a net margin of 2.43%. During the same quarter last year, the firm posted $3.02 EPS. On average, equities research analysts forecast that Phillips 66 will post $3.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 annualized dividend and a yield of 3.01%. Phillips 66’s payout ratio is presently 66.14%.

PSX has been the topic of a number of recent analyst reports. Vetr downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 target price on the stock. in a research note on Monday, September 19th. Piper Jaffray Cos. increased their price target on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Barclays PLC reiterated an “equal weight” rating and set a $84.00 price target (down from $86.00) on shares of Phillips 66 in a research report on Monday, October 10th. TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Finally, Jefferies Group set a $72.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research report on Saturday, October 15th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $86.12.

In other Phillips 66 news, President Timothy Garth Taylor sold 27,260 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $82.91, for a total value of $2,260,126.60. Following the transaction, the president now owns 68,878 shares of the company’s stock, valued at approximately $5,710,674.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Greg C. Garland sold 76,165 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $83.48, for a total value of $6,358,254.20. Following the completion of the transaction, the chairman now directly owns 96,325 shares in the company, valued at approximately $8,041,211. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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