Massachusetts Financial Services Co. MA Decreases Stock Position in Phillips 66 (NYSE:PSX)

Massachusetts Financial Services Co. MA lowered its position in shares of Phillips 66 (NYSE:PSX) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,064,159 shares of the oil and gas company’s stock after selling 82,318 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.26% of Phillips 66 worth $139,884,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PSX. Strategic Financial Concepts LLC purchased a new stake in Phillips 66 during the 2nd quarter worth $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the third quarter worth about $30,000. Bank & Trust Co purchased a new position in Phillips 66 in the second quarter valued at about $31,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at approximately $34,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Scotiabank decreased their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen reduced 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. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Up 1.4 %

Phillips 66 stock opened at $133.27 on Friday. The firm has a 50-day moving average price of $130.28 and a two-hundred day moving average price of $135.35. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The firm has a market capitalization of $55.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.34 and a beta of 1.33. 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 posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s 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.