Phillips 66 (NYSE:PSX) Shares Sold by Davis R M Inc.

Davis R M Inc. trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 348,460 shares of the oil and gas company's stock after selling 7,103 shares during the period. Davis R M Inc. owned 0.08% of Phillips 66 worth $45,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC lifted its stake in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company's stock valued at $2,519,000 after buying an additional 74 shares in the last quarter. Catalyst Financial Partners LLC increased its position in Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company's stock worth $214,000 after purchasing an additional 74 shares in the last quarter. Advisory Alpha LLC raised its stake in Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company's stock valued at $233,000 after purchasing an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company's stock worth $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Up 0.9 %

NYSE:PSX traded up $1.15 during mid-day trading on Monday, reaching $134.42. The stock had a trading volume of 995,438 shares, compared to its average volume of 2,649,407. The stock's 50 day simple moving average is $130.28 and its two-hundred day simple moving average is $135.27. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The company has a market capitalization of $55.51 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business's revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.63 EPS. Equities analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The firm 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 dividend yield of 3.42%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.

About Phillips 66

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.