Phillips 66 (NYSE:PSX) Position Lifted by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC raised its stake in Phillips 66 (NYSE:PSX) by 4.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,362 shares of the oil and gas company’s stock after buying an additional 628 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Phillips 66 were worth $2,019,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PSX. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares during the period. Legal & General Group Plc raised its holdings in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after buying an additional 16,941 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after buying an additional 79,301 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.1 %

NYSE:PSX traded down $1.21 on Thursday, hitting $110.65. 1,598,583 shares of the stock were exchanged, compared to its average volume of 2,667,259. 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 has a 52 week low of $109.39 and a 52 week high of $174.08. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 4.06 and a beta of 1.35. The company’s 50-day moving average price is $128.63 and its 200 day moving average price is $133.32.

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 analysts’ consensus estimates 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 period in the previous year, the firm posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.16%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSX. Morgan Stanley cut their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. TD Cowen lowered their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. 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.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus 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.