Mission Wealth Management LP boosted its holdings in Phillips 66 (NYSE:PSX) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,778 shares of the oil and gas company’s stock after buying an additional 207 shares during the period. Mission Wealth Management LP’s holdings in Phillips 66 were worth $248,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its position in Phillips 66 by 5.2% in the 2nd quarter. Victory Capital Management Inc. now owns 999,701 shares of the oil and gas company’s stock worth $71,878,000 after buying an additional 49,456 shares during the period. Townsquare Capital LLC increased its position in Phillips 66 by 11.5% in the 2nd quarter. Townsquare Capital LLC now owns 30,079 shares of the oil and gas company’s stock worth $1,812,000 after buying an additional 3,106 shares during the period. Orion Portfolio Solutions LLC increased its position in Phillips 66 by 94.8% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,270 shares of the oil and gas company’s stock worth $451,000 after buying an additional 3,051 shares during the period. Bank of Montreal Can increased its position in Phillips 66 by 145.7% in the 2nd quarter. Bank of Montreal Can now owns 1,892,401 shares of the oil and gas company’s stock worth $111,614,000 after buying an additional 1,122,225 shares during the period. Finally, Somerset Trust Co increased its position in Phillips 66 by 6.5% in the 2nd quarter. Somerset Trust Co now owns 20,556 shares of the oil and gas company’s stock worth $1,478,000 after buying an additional 1,249 shares during the period. 65.91% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Morgan Stanley reduced their price objective on Phillips 66 from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Mizuho cut their price target on Phillips 66 from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Barclays cut their price target on Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Finally, Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Monday, July 20th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $77.88.
Shares of PSX stock opened at $50.58 on Friday. The firm has a market capitalization of $22.09 billion, a P/E ratio of -18.26, a P/E/G ratio of 12.98 and a beta of 1.51. Phillips 66 has a twelve month low of $40.04 and a twelve month high of $119.92. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $55.84 and its 200 day simple moving average is $64.55.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.55). The firm had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $14.92 billion. Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. During the same quarter in the prior year, the firm earned $3.02 EPS. As a group, equities research analysts expect that Phillips 66 will post 0.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend is Monday, November 16th. Phillips 66’s payout ratio is presently 44.72%.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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