Pitcairn Co. Decreases Stock Position in Phillips 66 (NYSE:PSX)

Pitcairn Co. cut its stake in shares of Phillips 66 (NYSE:PSX) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,217 shares of the oil and gas company’s stock after selling 523 shares during the quarter. Pitcairn Co.’s holdings in Phillips 66 were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Lazard Asset Management LLC raised its holdings in Phillips 66 by 12.7% during the 1st quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock valued at $652,000 after buying an additional 451 shares during the last quarter. Caxton Associates LP raised its stake in shares of Phillips 66 by 22.2% during the first quarter. Caxton Associates LP now owns 5,630 shares of the oil and gas company’s stock valued at $920,000 after acquiring an additional 1,024 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Phillips 66 by 1.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 20,955 shares of the oil and gas company’s stock valued at $3,423,000 after acquiring an additional 325 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Phillips 66 by 15.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 38,175 shares of the oil and gas company’s stock worth $6,236,000 after purchasing an additional 5,089 shares during the period. Finally, Beacon Capital Management LLC grew its stake in shares of Phillips 66 by 75.5% in the first quarter. Beacon Capital Management LLC now owns 509 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 219 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group lowered their price target 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. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, 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. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of PSX opened at $133.33 on Tuesday. Phillips 66 has a fifty-two week low of $117.32 and a fifty-two week high of $174.08. The firm’s 50-day simple moving average is $130.40 and its two-hundred day simple moving average is $135.17. The stock has a market cap of $55.06 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

About Phillips 66

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.