Prime Capital Investment Advisors LLC Sells 157 Shares of Phillips 66 (NYSE:PSX)

Prime Capital Investment Advisors LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,398 shares of the oil and gas company’s stock after selling 157 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Phillips 66 were worth $3,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth $25,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $31,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $34,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.7 %

Shares of Phillips 66 stock opened at $129.92 on Thursday. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The stock has a market capitalization of $53.66 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. The company has a 50-day simple moving average of $129.73 and a 200 day simple moving average of $136.04. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the firm earned $4.63 earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Research analysts expect that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s dividend payout ratio is 59.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSX. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. UBS Group cut their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.