Phillips 66 (NYSE:PSX) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,102 shares of the oil and gas company’s stock after selling 212 shares during the period. Anchor Investment Management LLC’s holdings in Phillips 66 were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Blue Trust Inc. boosted its stake in Phillips 66 by 37.8% during the 2nd quarter. Blue Trust Inc. now owns 3,763 shares of the oil and gas company’s stock valued at $531,000 after purchasing an additional 1,033 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Phillips 66 by 52.8% during the second quarter. Oakworth Capital Inc. now owns 1,216 shares of the oil and gas company’s stock valued at $172,000 after buying an additional 420 shares in the last quarter. Hoylecohen LLC grew its holdings in Phillips 66 by 8.1% during the second quarter. Hoylecohen LLC now owns 2,254 shares of the oil and gas company’s stock worth $318,000 after acquiring an additional 168 shares during the period. Western Financial Corp CA raised its position in Phillips 66 by 5.5% in the second quarter. Western Financial Corp CA now owns 5,791 shares of the oil and gas company’s stock worth $818,000 after acquiring an additional 304 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at about $873,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PSX shares. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley reduced their price objective on 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. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.23.

Phillips 66 Trading Down 1.0 %

NYSE PSX opened at $122.72 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08. The firm’s fifty day simple moving average is $129.86 and its 200-day simple moving average is $133.91. The company has a market capitalization of $50.68 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 4.14 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share 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 analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.63 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend 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.