Martingale Asset Management L P Sells 500 Shares of Phillips 66 (NYSE:PSX)

Martingale Asset Management L P trimmed its position in shares of Phillips 66 (NYSE:PSX) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,554 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Martingale Asset Management L P’s holdings in Phillips 66 were worth $10,063,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PSX. Strategic Financial Concepts LLC bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 during the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the third quarter valued at $30,000. Bank & Trust Co bought a new stake in Phillips 66 in the second quarter worth $31,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the second quarter worth $34,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $134.02 on Friday. The firm has a market cap of $55.35 billion, a PE ratio of 17.20, a P/E/G ratio of 4.35 and a beta of 1.33. 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 fifty day simple moving average of $130.68 and a two-hundred day simple moving average of $134.99. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.63 EPS. On average, equities analysts anticipate that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley reduced their price target 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. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Company 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.