West Tower Group LLC Makes New $289,000 Investment in Phillips 66 (NYSE:PSX)

West Tower Group LLC acquired a new position in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,200 shares of the oil and gas company’s stock, valued at approximately $289,000.

A number of other institutional investors have also added to or reduced their stakes in PSX. Mizuho Securities USA LLC grew its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Boston Partners boosted its stake 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 acquiring an additional 1,595,722 shares during the last quarter. ING Groep NV boosted its stake in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Bank of Montreal Can boosted its stake in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in Phillips 66 in the third quarter valued at about $70,983,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.0 %

NYSE:PSX opened at $133.33 on Tuesday. The company has a 50-day moving average price of $130.40 and a 200-day moving average price of $135.17. Phillips 66 has a 12 month low of $117.32 and a 12 month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $55.06 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping 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 firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the company posted $4.63 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given 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 3.45%. Phillips 66’s dividend payout ratio is 59.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Barclays dropped their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average 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.