Algert Global LLC Purchases Shares of 26,983 Phillips 66 (NYSE:PSX)

Algert Global LLC bought a new position in Phillips 66 (NYSE:PSX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,983 shares of the oil and gas company's stock, valued at approximately $3,547,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the third quarter worth $30,000. Bank & Trust Co bought a new stake in Phillips 66 in the second quarter worth $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the second quarter worth $34,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PSX shares. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Finally, TD Cowen lowered 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $0.97 on Tuesday, reaching $134.25. 2,680,671 shares of the stock were exchanged, compared to its average volume of 2,664,831. The firm's 50 day moving average is $130.40 and its 200-day moving average is $135.17. Phillips 66 has a one year low of $117.32 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 firm has a market cap of $55.44 billion, a PE ratio of 17.12, a P/E/G ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $4.63 EPS. As a group, analysts anticipate that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is 59.05%.

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.