Goodman Financial Corp Trims Position in Phillips 66 (NYSE:PSX)

Goodman Financial Corp decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,533 shares of the oil and gas company’s stock after selling 380 shares during the period. Goodman Financial Corp’s holdings in Phillips 66 were worth $333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $26,000. Bank & Trust Co acquired a new stake in shares of Phillips 66 during the second quarter worth $31,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at $34,000. Finally, Fortitude Family Office LLC raised its position 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 worth $37,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.2 %

NYSE:PSX opened at $133.49 on Tuesday. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $130.40 and a 200-day simple moving average of $135.17. The company has a market capitalization of $55.13 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 4.40 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 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 during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share. On average, equities research analysts expect that Phillips 66 will post 7.57 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. Investors 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 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Morgan Stanley lowered 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. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

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.