Schear Investment Advisers LLC Purchases 428 Shares of Phillips 66 (NYSE:PSX)

Schear Investment Advisers LLC boosted its position in Phillips 66 (NYSE:PSX) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 6,922 shares of the oil and gas company’s stock after buying an additional 428 shares during the quarter. Schear Investment Advisers LLC’s holdings in Phillips 66 were worth $910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Boston Partners increased its stake in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. ING Groep NV boosted its position in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $130.91 on Friday. The firm has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33. 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 has a one year low of $111.90 and a one year high of $174.08. The business has a fifty day moving average of $129.75 and a 200 day moving average of $135.76.

Phillips 66 (NYSE:PSX) last released its quarterly 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. 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 company posted $4.63 EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.51%. Phillips 66’s payout ratio is presently 59.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSX. 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. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Raymond James lifted their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus 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.