Advisors Asset Management Inc. Sells 6,374 Shares of Phillips 66 (NYSE:PSX)

Advisors Asset Management Inc. cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,979 shares of the oil and gas company's stock after selling 6,374 shares during the quarter. Advisors Asset Management Inc.'s holdings in Phillips 66 were worth $9,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter valued at about $25,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter valued at approximately $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 in the second quarter valued at $31,000. Values First Advisors Inc. bought a new position in Phillips 66 in the third quarter worth $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the second quarter worth about $34,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 0.4 %

Shares of Phillips 66 stock opened at $131.41 on Thursday. The firm has a market cap of $54.27 billion, a PE ratio of 16.87, a P/E/G ratio of 4.29 and a beta of 1.33. The business's 50 day simple moving average is $130.03 and its 200 day simple moving average is $135.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $114.94 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The company 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 revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company earned $4.63 earnings per share. On average, analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued 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 3.50%. Phillips 66's payout ratio is presently 59.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen reduced their target price 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. Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.