Baltimore Capital Management Inc. Acquires New Stake in Phillips 66 (NYSE:PSX)

Baltimore Capital Management Inc. acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,565 shares of the oil and gas company’s stock, valued at approximately $2,148,000. Phillips 66 comprises about 3.5% of Baltimore Capital Management Inc.’s portfolio, making the stock its 8th largest holding.

Several other large investors also recently made changes to their positions in PSX. Vanguard Group Inc lifted its holdings in shares of Phillips 66 by 2.8% in the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after purchasing an additional 885,979 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Phillips 66 by 7.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after purchasing an additional 958,545 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Phillips 66 by 8.0% in the first quarter. Wells Fargo & Company MN now owns 9,072,943 shares of the oil and gas company’s stock valued at $863,471,000 after purchasing an additional 674,509 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,647,531 shares of the oil and gas company’s stock valued at $572,684,000 after purchasing an additional 218,018 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Phillips 66 by 0.9% in the first quarter. Northern Trust Corp now owns 5,695,981 shares of the oil and gas company’s stock valued at $542,087,000 after purchasing an additional 48,937 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.

NYSE PSX opened at $83.25 on Thursday. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. The firm has a market capitalization of $38.47 billion, a PE ratio of 7.11, a P/E/G ratio of 1.37 and a beta of 0.99.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The firm had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period in the prior year, the business posted $1.04 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 7.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.32%. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is presently 30.74%.

A number of analysts have recently issued reports on PSX shares. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Monday, April 29th. They noted that the move was a valuation call. Citigroup upped their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. ValuEngine downgraded shares of Phillips 66 from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Argus dropped their price target on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. Finally, Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and upped their price target for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $118.73.

In other Phillips 66 news, Director John E. Lowe bought 2,000 shares of the stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $84.41 per share, with a total value of $168,820.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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Phillips 66 Company 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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