King Luther Capital Management Corp Has $5.43 Million Stock Holdings in Phillips 66 (NYSE:PSX)

King Luther Capital Management Corp reduced its holdings in Phillips 66 (NYSE:PSX) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 41,340 shares of the oil and gas company’s stock after selling 1,009 shares during the period. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $5,434,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Van ECK Associates Corp raised its position in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at about $17,670,000. M&G Plc bought a new position in shares of Phillips 66 during the second quarter worth about $3,596,000. Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after acquiring an additional 108,515 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Barclays lowered 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. Morgan Stanley lowered their target price 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. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Up 0.3 %

NYSE PSX opened at $131.90 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $114.94 and a 52 week high of $174.08. The business has a 50 day moving average price of $130.15 and a 200-day moving average price of $135.50. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the business posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities analysts expect that Phillips 66 will post 7.63 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. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.49%. Phillips 66’s dividend payout ratio is presently 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.