World Investment Advisors LLC Takes $796,000 Position in Phillips 66 (NYSE:PSX)

World Investment Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,054 shares of the oil and gas company’s stock, valued at approximately $796,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at approximately $30,000. Kings Path Partners LLC bought a new stake in Phillips 66 during the 2nd quarter valued at $38,000. Industrial Alliance Investment Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth $40,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 in the third quarter worth $40,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 5.2 %

Shares of Phillips 66 stock opened at $116.28 on Tuesday. Phillips 66 has a 12-month low of $116.07 and a 12-month high of $174.08. The firm has a market capitalization of $48.02 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $129.42 and its 200-day moving average is $133.66.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) 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 firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.96%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analysts Set New Price Targets

Several research firms recently weighed in on PSX. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Barclays cut their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.00.

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.