King Luther Capital Management Corp Has $5.43 Million Stock Holdings in Phillips 66 (NYSE:PSX)

King Luther Capital Management Corp lessened its holdings in Phillips 66 (NYSE:PSX) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,340 shares of the oil and gas company’s stock after selling 1,009 shares during the quarter. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $5,434,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Finally, Bank & Trust Co bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.3 %

Shares of NYSE:PSX opened at $131.90 on Friday. The stock has a market cap of $54.47 billion, a PE ratio of 16.93, a P/E/G ratio of 4.29 and a beta of 1.33. 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 12-month low of $114.94 and a 12-month high of $174.08. The business has a 50 day moving average of $130.15 and a 200-day moving average of $135.50.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.63 EPS. As a group, equities research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm 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 $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Ratings Changes

Several research firms recently weighed in on PSX. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank decreased 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 research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.