Phillips 66 (NYSE:PSX) Holdings Decreased by WP Advisors LLC

WP Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 9.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,745 shares of the oil and gas company’s stock after selling 399 shares during the quarter. WP Advisors LLC’s holdings in Phillips 66 were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PSX. Resurgent Financial Advisors LLC increased its stake in Phillips 66 by 84.1% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,891 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 864 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in Phillips 66 by 29.9% in the 1st quarter. Trustmark National Bank Trust Department now owns 8,960 shares of the oil and gas company’s stock worth $1,464,000 after purchasing an additional 2,060 shares in the last quarter. Rockport Wealth LLC purchased a new position in Phillips 66 in the 1st quarter worth about $221,000. O Shaughnessy Asset Management LLC boosted its position in Phillips 66 by 46.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 71,072 shares of the oil and gas company’s stock worth $11,609,000 after acquiring an additional 22,478 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in Phillips 66 by 208.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,104 shares of the oil and gas company’s stock worth $1,977,000 after acquiring an additional 8,174 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Morgan Stanley reduced their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $130.91 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 business’s 50 day moving average is $129.75 and its two-hundred day moving average is $135.73. The company has a market cap of $54.06 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.29 and a beta of 1.33. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly 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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.63 EPS. On average, equities analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

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. 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 dividend payout ratio is currently 59.05%.

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.