Captrust Financial Advisors Reduces Stock Position in Phillips 66 (NYSE:PSX)

Captrust Financial Advisors decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,852 shares of the oil and gas company's stock after selling 9,554 shares during the period. Captrust Financial Advisors' holdings in Phillips 66 were worth $16,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock worth $10,753,000 after buying an additional 60,355 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $3,596,000. Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% in the third 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. Finally, Nwam LLC purchased a new position in Phillips 66 during the 3rd quarter worth $498,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.5 %

Shares of PSX traded up $0.63 during midday trading on Friday, hitting $133.98. 1,402,352 shares of the company's stock traded hands, compared to its average volume of 2,362,879. 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 capitalization of $55.33 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. Phillips 66 has a 1 year low of $119.77 and a 1 year high of $174.08. The firm's fifty day moving average is $130.68 and its 200-day moving average is $134.84.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period last year, the business posted $4.63 earnings per share. The firm's revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PSX shares. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a report on Monday, November 4th. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Barclays cut their target price 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. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Five equities 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.com, the stock 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.