Schear Investment Advisers LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Schear Investment Advisers LLC raised its holdings in Phillips 66 (NYSE:PSX) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,922 shares of the oil and gas company’s stock after acquiring an additional 428 shares during the period. Schear Investment Advisers LLC’s holdings in Phillips 66 were worth $910,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in Phillips 66 during the first quarter valued at approximately $25,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $26,000. Bank & Trust Co bought a new stake in shares of Phillips 66 during the 2nd quarter worth $31,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the third quarter worth $30,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 in the second quarter valued at $34,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.9 %

PSX opened at $130.91 on Friday. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day simple moving average of $129.75 and a two-hundred day simple moving average of $135.76. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its 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 return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio is 59.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PSX shares. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Morgan Stanley cut their target price 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. Scotiabank lowered 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 report on Thursday, October 10th. UBS Group cut 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. Finally, Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.