Mutual of America Capital Management LLC Has $6.77 Million Stake in Phillips 66 (NYSE:PSX)

Mutual of America Capital Management LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,536 shares of the oil and gas company’s stock after selling 1,929 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Phillips 66 were worth $6,774,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Boston Partners grew its stake in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after acquiring an additional 1,408,954 shares during the period. ING Groep NV raised its stake in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the 3rd quarter valued at $70,983,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. Finally, Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $131.32 on Tuesday. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The company has a 50 day moving average of $129.82 and a 200-day moving average of $135.64. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 4.29 and a beta of 1.33.

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 (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. On average, equities analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

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.