Natixis Advisors LLC Trims Holdings in Phillips 66 (NYSE:PSX)

Natixis Advisors LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 17.8% in the third quarter, Holdings Channel.com reports. The firm owned 254,913 shares of the oil and gas company’s stock after selling 55,149 shares during the quarter. Natixis Advisors LLC’s holdings in Phillips 66 were worth $33,509,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the third quarter worth approximately $30,000. Finally, Bank & Trust Co bought a new position in shares of Phillips 66 during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PSX shares. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Barclays cut their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Five 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 presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Up 0.9 %

Shares of NYSE:PSX opened at $130.91 on Monday. The company has a market capitalization of $54.06 billion, a PE ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a 50 day moving average price of $129.75 and a two-hundred day moving average price of $135.73.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $4.63 EPS. Analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company 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 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

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.