Benjamin Edwards Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

Benjamin Edwards Inc. boosted its holdings in Phillips 66 (NYSE:PSX) by 557.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,072 shares of the oil and gas company’s stock after purchasing an additional 25,495 shares during the quarter. Benjamin Edwards Inc.’s holdings in Phillips 66 were worth $3,954,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSX. Strategic Financial Concepts LLC bought a new position in Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter valued at $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 in the third quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the second quarter valued at $34,000. Finally, Fortitude Family Office LLC lifted its position in Phillips 66 by 52.3% during the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PSX shares. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Barclays cut their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Down 1.5 %

NYSE PSX opened at $134.44 on Wednesday. Phillips 66 has a one year low of $119.77 and a one year high of $174.08. 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 company has a market capitalization of $55.52 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 4.45 and a beta of 1.35. The company’s 50-day simple moving average is $130.88 and its two-hundred day simple moving average is $134.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $4.63 earnings per share. Equities analysts forecast that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

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.