Phillips 66 (NYSE:PSX) Stock Holdings Lowered by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its holdings in Phillips 66 (NYSE:PSX) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 136,104 shares of the oil and gas company’s stock after selling 5,724 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Phillips 66 were worth $17,897,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth $26,000. Bank & Trust Co purchased a new stake in Phillips 66 during the second quarter valued at about $31,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the third quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the second quarter worth approximately $34,000. Finally, Fortitude Family Office LLC increased its position in shares of Phillips 66 by 52.3% in the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $133.98 on Monday. 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 has a market capitalization of $55.33 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. The company has a 50 day moving average price of $130.68 and a two-hundred day moving average price of $134.84. Phillips 66 has a 12-month low of $119.77 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.63 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSX. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $149.69.

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.