CWC Advisors LLC. Buys New Position in Phillips 66 (NYSE:PSX)

CWC Advisors LLC. purchased a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,651 shares of the oil and gas company’s stock, valued at approximately $1,269,000. Phillips 66 comprises about 1.3% of CWC Advisors LLC.’s holdings, making the stock its 22nd biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at $17,670,000. M&G Plc bought a new position in Phillips 66 during the second quarter valued at about $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 in the first quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Phillips 66 by 69.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after acquiring an additional 15,542 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PSX shares. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Barclays dropped their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $128.17 on Friday. The stock’s 50-day simple moving average is $132.65 and its two-hundred day simple moving average is $139.50. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The firm has a market capitalization of $53.65 billion, a P/E ratio of 10.99, a P/E/G ratio of 5.61 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the prior year, the business earned $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. Phillips 66’s dividend payout ratio is 39.45%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

About Phillips 66

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.