CFS Investment Advisory Services LLC Trims Position in Phillips 66 (NYSE:PSX)

CFS Investment Advisory Services LLC trimmed its position in Phillips 66 (NYSE:PSX) by 46.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,895 shares of the oil and gas company’s stock after selling 4,327 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Phillips 66 were worth $643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC grew its position in shares of Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the period. Catalyst Financial Partners LLC grew its holdings in Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Advisory Alpha LLC increased its stake in shares of Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted 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 last quarter. Finally, Krane Funds Advisors LLC boosted its position in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $133.28 on Friday. The company has a market capitalization of $55.04 billion, a P/E ratio of 17.11, a P/E/G ratio of 4.34 and a beta of 1.33. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The firm’s 50 day simple moving average is $130.28 and its two-hundred day simple moving average is $135.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. Research analysts expect that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PSX shares. UBS Group lowered their price objective 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. Morgan Stanley lowered their price target on 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. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Barclays cut their price target on shares of 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

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.