Phillips 66 (NYSE:PSX) Shares Acquired by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL boosted its position in Phillips 66 (NYSE:PSX) by 17.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,653 shares of the oil and gas company’s stock after purchasing an additional 1,002 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Phillips 66 were worth $875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter worth $30,000. Kings Path Partners LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $38,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Phillips 66 in the second quarter valued at $40,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Morgan Stanley dropped 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. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Mizuho cut their target price 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, Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.23.

Phillips 66 Stock Performance

Shares of PSX traded down $1.48 during mid-day trading on Friday, reaching $122.51. 220,915 shares of the company’s stock traded hands, compared to its average volume of 2,651,177. The stock has a market capitalization of $50.60 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 4.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business’s 50-day moving average price is $130.18 and its 200-day moving average price is $134.05. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is 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.