Phillips 66 (NYSE:PSX) Shares Sold by WP Advisors LLC

WP Advisors LLC cut its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,745 shares of the oil and gas company’s stock after selling 399 shares during the quarter. WP Advisors LLC’s holdings in Phillips 66 were worth $492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at about $30,000. Finally, Bank & Trust Co acquired a new stake in Phillips 66 in the 2nd quarter valued at about $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.9 %

Shares of NYSE:PSX opened at $130.91 on Monday. 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 $111.90 and a 52-week high of $174.08. The company has a 50 day moving average of $129.75 and a two-hundred day moving average of $135.73. The company has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PSX shares. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Bank of America started 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. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Read Our Latest Analysis on Phillips 66

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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