Worldquant Millennium Advisors LLC bought a new stake in shares of Phillips 66 (NYSE:PSX – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 189,035 shares of the oil and gas company’s stock, valued at approximately $24,849,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catalyst Financial Partners LLC boosted its position in shares of Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares during the period. Advisory Alpha LLC grew its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Phillips 66 by 1.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares during the period. Krane Funds Advisors LLC raised its stake in shares of Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares in the last quarter. Finally, Richwood Investment Advisors LLC lifted its holdings in Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 85 shares during the period. Institutional investors own 76.93% of the company’s stock.
Wall Street Analysts Forecast Growth
PSX has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective 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. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $149.69.
Phillips 66 Trading Down 0.9 %
Shares of NYSE PSX opened at $128.68 on Friday. The business has a fifty day simple moving average of $130.88 and a 200-day simple moving average of $134.62. The company has a market cap of $53.14 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 4.30 and a beta of 1.35. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. 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 – Get Free Report) last issued its quarterly 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 net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Sell-side analysts predict that Phillips 66 will post 7.59 EPS for the current year.
Phillips 66 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. Phillips 66’s dividend payout ratio is 59.05%.
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.
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