Charles Schwab Investment Management Inc. Grows Stock Position in Phillips 66 (NYSE:PSX)

Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,901,887 shares of the oil and gas company's stock after purchasing an additional 16,941 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.70% of Phillips 66 worth $381,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter valued at $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth $30,000. Bank & Trust Co purchased a new stake in Phillips 66 during the 2nd quarter worth about $31,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $34,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock traded up $1.86 during trading on Friday, reaching $133.27. 2,480,779 shares of the company were exchanged, compared to its average volume of 2,476,587. Phillips 66 has a 52-week low of $117.32 and a 52-week 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 cap of $55.04 billion, a P/E ratio of 17.11, a PEG ratio of 4.34 and a beta of 1.33. The stock's 50 day moving average price is $130.28 and its 200 day moving average price is $135.42.

Phillips 66 (NYSE:PSX - Get Free Report) 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, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 earnings per share. Phillips 66's revenue was down 10.3% on a year-over-year basis. As a group, analysts predict that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66's payout ratio is 59.05%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target on the stock. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus 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.