Stonegate Investment Group LLC Buys 11,396 Shares of Phillips 66 (NYSE:PSX)

Stonegate Investment Group LLC raised its stake in Phillips 66 (NYSE:PSX) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,289 shares of the oil and gas company’s stock after purchasing an additional 11,396 shares during the period. Phillips 66 makes up approximately 1.8% of Stonegate Investment Group LLC’s holdings, making the stock its 21st biggest position. Stonegate Investment Group LLC’s holdings in Phillips 66 were worth $67,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners increased its holdings in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Phillips 66 by 1,087.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after buying an additional 395,617 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research reports. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays reduced their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Mizuho reduced 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.50.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 1.0 %

PSX stock traded down $1.34 during mid-day trading on Friday, reaching $132.01. The company had a trading volume of 229,531 shares, compared to its average volume of 2,679,850. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a 50 day simple moving average of $133.23 and a two-hundred day simple moving average of $140.84. The company has a market capitalization of $55.26 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 5.75 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the company earned $3.87 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.48%. Phillips 66’s payout ratio is currently 39.45%.

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.