Hilltop Holdings Inc. Has $3.46 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Hilltop Holdings Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 301.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,281 shares of the oil and gas company’s stock after buying an additional 19,733 shares during the period. Hilltop Holdings Inc.’s holdings in Phillips 66 were worth $3,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Holocene Advisors LP bought a new position in shares of Phillips 66 in the third quarter worth about $6,386,000. Community Bank N.A. lifted its holdings in shares of Phillips 66 by 3.9% during the third quarter. Community Bank N.A. now owns 16,977 shares of the oil and gas company’s stock worth $2,232,000 after buying an additional 632 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Phillips 66 by 557.0% in the third quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock valued at $3,954,000 after acquiring an additional 25,495 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 in the third quarter worth $292,000. Finally, Point72 Hong Kong Ltd bought a new position in Phillips 66 during the third quarter worth $40,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Phillips 66 stock opened at $136.43 on Tuesday. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The firm has a market cap of $56.34 billion, a P/E ratio of 17.51, a P/E/G ratio of 4.37 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business’s fifty day moving average is $130.68 and its two-hundred day moving average is $134.84.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have commented on PSX. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Scotiabank reduced 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 report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Barclays dropped their price target on shares of 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. Finally, Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company 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.