West Tower Group LLC Purchases New Holdings in Phillips 66 (NYSE:PSX)

West Tower Group LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,200 shares of the oil and gas company’s stock, valued at approximately $289,000.

Other large investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Phillips 66 during the 3rd quarter valued at about $26,000. Bank & Trust Co purchased a new position in Phillips 66 during the 2nd quarter valued at about $31,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the 3rd quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $34,000. Finally, Fortitude Family Office LLC increased its stake in Phillips 66 by 52.3% during the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX opened at $133.33 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $55.06 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33. The company’s 50 day moving average is $130.40 and its 200 day moving average is $135.17. Phillips 66 has a 12-month low of $117.32 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.63 earnings per share. On average, equities research analysts predict that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Analyst Ratings Changes

A number of analysts have weighed in on PSX shares. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five research 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, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Company 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.