Phillips 66 (NYSE:PSX) Shares Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC increased its stake in Phillips 66 (NYSE:PSX) by 65.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,459 shares of the oil and gas company’s stock after acquiring an additional 2,547 shares during the quarter. Strategy Asset Managers LLC’s holdings in Phillips 66 were worth $849,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter worth $30,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 in the second quarter worth $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $130.93 on Wednesday. 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 moving average of $129.90 and a two-hundred day moving average of $135.55. The stock has a market capitalization of $54.07 billion, a P/E ratio of 16.81, a P/E/G ratio of 4.29 and a beta of 1.33. Phillips 66 has a fifty-two week low of $114.94 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.63 earnings per share. On average, equities research analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.51%. Phillips 66’s dividend payout ratio is 59.05%.

Analyst Ratings Changes

Several analysts have recently commented on PSX shares. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.