Phillips 66 (NYSE:PSX) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 36.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,771 shares of the oil and gas company’s stock after purchasing an additional 3,679 shares during the period. Gateway Investment Advisers LLC’s holdings in Phillips 66 were worth $1,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Wellington Management Group LLP grew its position in shares of Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Boston Partners grew its holdings in Phillips 66 by 41.4% in the first 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 during the period. Vanguard Group Inc. increased its position 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 stake in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after buying an additional 1,408,954 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 valued at $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays lowered 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. Piper Sandler increased their target price on Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $151.21.

Phillips 66 Price Performance

Phillips 66 stock opened at $136.35 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $133.24 and a 200 day moving average price of $141.50. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The stock has a market cap of $57.81 billion, a P/E ratio of 10.49, a PEG ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 EPS. Sell-side analysts anticipate that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.37%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.